Cabral Gold Announces an up to $10 Million Best Efforts Financing Including an Investment by Mr. Eric Sprott

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[{"type":"text","content":"Cabral Gold Announces an up to $10 Million Best Efforts Financing Including an Investment by Mr. Eric SprottVancouver, British Columbia--(Newsfile Corp. - April 23, 2025) - Cabral Gold Inc. (TSXV: CBR) (OTC Pink: CBGZF) (\"Cabral\" or the \"Company\") is pleased to announce that it has entered into an agreement with Paradigm Capital Inc. as sole agent (the \"Agent\"), in connection with a proposed best efforts financing (the \"Offering\") for total proceeds of up to $10 million, consisting of up to 26,316,000 units of the Company (the \"Units\") at a price of $0.38 per Unit. Each Unit will be comprised of one common share in the capital of the Company and one-half of one common share purchase warrant of the Company (each whole warrant, a \"Warrant\"). Each Warrant will be exercisable to acquire one common share in the capital of the Company (a \"Warrant Share\") for 24 months from the Closing Date (as defined below) at an exercise price of $0.56 per Warrant Share. Mr. Eric Sprott has agreed to invest approximately $2,000,000 in the Offering. The Offering is expected to close on or about May 1, 2025 (the \"Closing Date\") and is subject to the Company receiving all necessary regulatory approvals, including approval of the TSX Venture Exchange.The Company has granted the Agent an option (the \"Over-Allotment Option\") exercisable, in whole or in part, within 30 days after the Closing Date to sell, at the Offering Price, up to 3,947,400 additional Units (being that number of additional Units equal to 15% of the number of Units issuable pursuant to the Offering) for market stabilization purposes and to cover over-allotments, if any. If the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be $11,500,092.The Agent will be paid by the Company on closing of the Offering a cash commission equal to 6.0% of the gross proceeds of the Offering, including on any exercise of the Over-Allotment Option. Additionally, on the Closing Date, the Company will issue the Agent compensation options entitling the Agent to acquire that number of common shares equal to 6.0% of the number of Units issued pursuant to the Offering, including on any exercise of the Over-Allotment Option, at an exercise price of $0.38, exercisable for a period of 24 months following the Closing Date.The net proceeds from the Offering...

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