The transaction & the issuance of Contact Gold's common shares pursuant to the Purchase Option Agreement are subject to acceptance by the TSXV.
Trey Wasser, Ely Gold's President & CEO commented, "We are pleased to add another high-quality exploration partner to our option portfolio. With the recent strength in gold prices and gold stocks, this will be an excellent asset addition to our equity portfolio."
https://www.wsj.com/articles/PR-CO-20190724-909637