GCC:CC - Golden Cariboo Announces $750000 Private Placement
(TheNewswire)
Vancouver, BC - TheNewswire - June 12, 2023 - Golden Cariboo Resources Ltd. (the “Company”) (TSXV:GCC ) ( OTC:GCCFF ) ( WKN:A0RLEP) is pleased to announce the Company has arranged anon-brokered private placement of up to 10,000,000 units, at a priceof $0.075 per unit, for gross proceeds of $750,000. Each unit willconsist of one common share and one share purchase warrant; eachwarrant is exercisable for a period of 5 years from the closing at aprice of $0.15 per share.
The private placement is subject to TSX VentureExchange approval and all securities are subject to a four month holdperiod. Finder's fees may be payable in connection with the privateplacement, all in accordance with the policies of the TSX VentureExchange.
Proceeds will be used for property exploration and forgeneral working capital.
AboutGolden Cariboo Resources Ltd.
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 Osisko Development Corp.(NYSE: ODV, TSXV: ODV). Historically, over 101 placer gold creeks onthe 90 km trend from the Cariboo Hudson mine north to the QuesnelleGold Quartz mine have recorded production in excess of 2.6 millionounces of gold up to 1933 (Hall, 1986) and successful placer miningcontinues 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 Hixon Gold claims, is a placer creek which has seenlimited, small-scale placer production since the mid 1860's. FromMinistry of Mines Reports prior to 1945, estimates of up to $2,000,000worth of placer gold was mined from Hixon Creek.
For further information please contact:
GOLDEN CARIBOO RESOURCES LTD
“Andrew H. Rees”
Andrew H. Rees, Director
Tel: 604-505-3739
Neither the TSX Venture Exchange nor itsRegula tionService Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
This news release contains certain forward-lookingstatements which involve known and unknown risks, delays, anduncertainties not under the control of Golden Cariboo Resources Ltd.which may cause actual results, performance or achievements of GoldenCariboo Resources Ltd. to be materially different from the results,performance or expectation implied by these forward lookingstatements. By their nature, forward lookingstatements involve risk and uncertainties because they relate toevents and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities,industry production, commodity demand and pricing, currency exchangerates, and, but not limited to, general economic factors.
Copyright (c) 2023 TheNewswire - All rights reserved.