- Cassiar Gold Corp. (GLDC) has arranged an insider-led, non-brokered private placement consisting of up to 1,428,571 flow-through units
- Each unit will be offered at a price of C$0.70 per FT unit for gross proceeds of up to C$1 million
- Insiders of the company have committed to purchase a minimum of $500,000 of the FT units
- The offering is expected to close on or before July 29, 2022
- Cassiar Gold Corp. is a Canadian gold exploration company
- Cassiar Gold Corp. was down 4.762 per cent, trading at $0.60 at 10:03 AM ET
Cassiar Gold Corp. (GLDC) has announced a non-brokered private placement for gross proceeds of up to C$1 million.
The offering consists of up to 1,428,571 flow-through units at C$0.70 per FT unit
Insiders of the company have committed to purchase a minimum of $500,000 of the FT units.
The company intends to use proceeds from the offering to fund ongoing exploration and drill programs at its flagship Cassiar Gold Project in northern British Columbia.
Each FT unit will consist of one common share of the company issued on a “CEE flow-through” basis in line with the Income Tax Act (Canada) and half of one common share purchase warrant.
Each whole warrant will be exercisable by the holder to acquire one common share of the company at a price of C$0.90 cents for a period of 24 months, following the closing date of the offering.
“Thanks to the hard work of our dedicated technical team at site, our 2022 drill campaign is advancing ahead of schedule with nearly 9,000 metres already completed, putting us in a position to potentially expand our drill program beyond the original target of 20,000 metres,” said Marco Roque, President and CEO of Cassiar Gold.
“The additional funding from this private placement will bolster our current financial position and provide us with the opportunity to potentially add more metres to our drill program if conditions allow,” he added.
The offering is expected to close on or before July 29, 2022.
Cassiar Gold Corp. is a Canadian gold exploration company holding a 100 per cent interest in its flagship Cassiar Gold Property located in British Columbia.
Cassiar Gold Corp. was down 4.762 per cent, trading at $0.60 at 10:03 AM ET.