Source: Cabral Gold
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  • Cabral Gold (CBR) has closed the company’s latest round of financing
  • The Vancouver-based precious metals exploration company raised approximately $3,000,000 through a private placement
  • Net proceeds will go towards exploration and development activities
  • The company to continues to focus on exploration and development, primarily in Brazil
  • Cabral Gold is unchanged, trading at $0.26 at 10:35 am ET

Cabral Gold (CBR) has closed the company’s latest round of financing.

The Vancouver-based precious metals exploration company raised approximately $3,000,000 through a brokered private placement.

Net proceeds will go towards exploration and development activities and general working capital purposes.

The offering saw the company issue a total of 10,038,358 units to raise the money.

The financing was led by Paradigm Capital, which acted as the lead agent and sole bookrunner. Paradigm exercised its over-allotment option for additional gross proceeds of $11,507.40.

The junior resource company continues to focus on identification, exploration and development of mineral properties. Its current primary focus is on gold properties located in Brazil.

The company has a 100-percent interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in northern Brazil. Two gold deposits have so far been defined there and contain 43-101-compliant Indicated resources.

The Tapajós Gold Province is the site of the largest gold rush in Brazil’s history, producing an estimated 30 to 50 million ounces of placer gold between 1978 and 1995.

The Cuiú Cuiú PRoject was the largest area of placer workings in the Tapajós and produced an estimated two million ounces of placer gold historically.

Cabral Gold is unchanged, trading at $0.26 at 10:35 am ET.

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