2023-04-24 08:06:13 ET
- Cassiar Gold ( TSXV: GLDC:CA ) ( OTCQX:CGLCF ) is set to launch a CAD7.00M offering of flow-through units.
- The company has entered into an agreement with Cormark Securities, Canaccord Genuity and Red Cloud Securities to act as co-lead underwriters and joint bookrunners on behalf of a syndicate of underwriters.
- The underwriters have agreed to purchase ?~9.3M flow-through units to be resold to charitable purchasers at CAD0.75 per charity flow-through unit on a bought deal basis.
- Additionally, the company intends to complete a non-brokered private placement of traditional flow-through units at CAD0.75 per regular flow-through unit for aggregate gross proceeds of up to CAD500K.
- The charity flow-through unit and regular flow-through unit consists of one share and one-half of one share purchase warrant.
- Each whole warrant entitles the holder to purchase one non-flow-through share at CAD0.70.
- The proceeds will be used to incur Canadian exploration expenses.
- The offering is scheduled to close on or around May 4.
- Source: Press Release
For further details see:
Cassiar Gold to launch flow-through units offering