GCC - Golden Cariboo Announces $2500000 Private Placement
(TheNewswire)
May 23, 2024 – TheNewswire - Vancouver, Canada – Golden Cariboo ResourcesLtd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A042CQ) (FSE:3TZ) announces a non-brokered private placement of up to 10,000,000units, at a price of $0.25 per unit, for gross proceeds of $2,500,000.Each unit will consist of one common share and one share purchasewarrant; each warrant is exercisable for a period of 3 years from theclosing at exercise prices as follows: $0.28 in year one, $0.30 inyear two, and $0.32 in year three.
The private placement is subject to CSE Exchangeapproval and all securities are subject to a four-month hold period.Finder’s fees may be payable in connection with the privateplacement, all in accordance with the policies of the CSE Exchange.The proceeds from this private placement will be used for propertyexploration and for general working capital.
The Units will be subject to a statutory hold period offour months from the date of issuance, in accordance with applicablepolicies of the Canadian Securities Exchange.
For additional information please contact:
Scott Young
Business Development
+1-705-888-2756
About Golden Cariboo ResourcesLtd.
Golden Cariboo Resources Ltd. is rediscovering theCariboo Gold Rush by proceeding with high-grade targeted drilling andtrenching programs on its Quesnelle Gold Quartz Mine project which isalmost fully encircled on 3 of 4 sides by OsiskoDevelopment (NSE-ODV/TSXV-ODV). Historically, over 101 placer goldcreeks on the 90 km trend from the Cariboo Hudson mine north to theQuesnelle Gold Quartz mine have recorded production in excess of 2.6million ounces of gold up to 1933 (Hall, 1986) and successful placermining continues to this day.
Golden Cariboo’s Quesnelle Gold Quartz Mine propertyis 4 km northeast of, and road accessible from, Hixon in centralBritish Columbia. The Property includes the Quesnelle Quartzgold-silver deposit, which was discovered in 1865 in conjunction withplacer mining activities and produced 2,048 tonnes grading 3.14 g/t Auand 4.18 g/t Ag in 1932 and 1939, with an additional 217 tonnes ofunknown grade reported in 1878 (BC Minfile, 2021). Hixon Creek, whichdissects the Quesnelle Gold Quartz Mine property, is a placer creekwhich has seen limited, small-scale placer production since the mid1860’s. From Ministry of Mines Reports prior to 1945, estimates ofup to $2,000,000 worth of placer gold was mined from HixonCreek.
GOLDEN CARIBOO RESOURCES LTD.
“J. Frank Callaghan”
J. Frank Callaghan, President &CEO
604-682-2928
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Neither the “CSE” Canadian Securities Exchange norits Regulation Service Provider (as that term is defined in thepolicies of the Canadian Securities Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
Cautionary Statements:
This news release containsstatements which constitute “forward-looking information” withinthe meaning of applicable securities laws, including statementsregarding the plans, intentions, beliefs and current expectations ofthe Company with respect to future business activities and plans ofthe Company. Forward-looking information is often identified by thewords “may”, “would”, “could”, “should”, “will”,“intend”, “plan”, “anticipate”, “believe”,“estimate”, “expect” or similar expressions and includesinformation regarding: the number of Shares outstanding following theConsolidation; the effect of the Consolidation on the market for theShares; and the treatment of fractional shares in theConsolidation.
Such forward-looking statements arebased on a number of assumptions of management, including, withoutlimitation, that the Company will complete the Consolidation; that theCompany will receive the necessary approvals to complete theConsolidation; that the number of Shares outstanding following theConsolidation will be consistent with the number set out herein; thatthe Consolidation will make the Shares more attractive to new andcurrent investors; and that the treatment of fractional shares willalign with management’s current expectations.
Additionally, forward-lookinginformation involve a variety of known and unknown risks,uncertainties and other factors which may cause the actual plans,intentions, activities, results, performance or achievements of theCompany to be materially different from any future plans, intentions,activities, results, performance or achievements expressed or impliedby such forward-looking statements. Such risks include, withoutlimitation: that the Company will be unable to complete theConsolidation; that the Company will not receive the necessaryapprovals to complete the Consolidation; that the treatment offractional shares will differ for the treatment set out herein; thatthe Consolidation will not make the Shares more attractive to new andcurrent investors; and that the number of issued and outstandingshares following the Consolidation will differ for the numberstatement herein. Such forward-looking information representsmanagement’s best judgment based on information currently available.No forward-looking statement can be guaranteed and actual futureresults may vary materially. Accordingly, readers are advised not toplace undue reliance on forward-looking statements or information.Neither the Company nor any of its representatives make anyrepresentation or warranty, express or implied, as to the accuracy,sufficiency or completeness of the information in this news release.Neither the Company nor any of its representatives shall have anyliability whatsoever, under contract, tort, trust or otherwise, to youor any person resulting from the use of the information in this newsrelease by you or any of your representatives or for omissions fromthe information in this news release.
The forward-looking statementsherein speak only as of the date they were originally made. TheCompany has no intention and undertakes no obligation to update orrevise any forward-looking statements, whether as a result of newinformation, future events or otherwise, except as required bylaw.
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