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Cabral Gold Announces Closing of Oversubscribed Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 21, 2023) - Cabral Gold Inc.  ( TSXV: ...
About this update from Cabral Gold, Inc.
[{"type":"text","content":"Cabral Gold Announces Closing of Oversubscribed Private PlacementVancouver, British Columbia--(Newsfile Corp. - March 21, 2023) - Cabral Gold Inc. (TSXV: CBR) (OTC Pink: CBGZF) (\"Cabral\" or the \"Company\") is pleased to announce the closing of its previously announced non-brokered private placement (the \"Private Placement\"). The Private Placement was oversubscribed by $790,000 for gross proceeds of $2,790,000. As a result, the Company issued a total of 27,900,000 units (the \"Units\") at a price of $0.10 per unit.Each Unit consists of one common share in the capital of the Company (a \"Common Share\") and one common share purchase warrant (a \"Warrant\"). Each Warrant is exercisable for two years following the first closing of the Private Placement (the \"Closing\") and will entitle the holder to purchase one Common Share at an exercise price of $0.20.Further details regarding the use of net proceeds from the Private Placement can be found in the Company's news release, dated 7th March 2023. The Company incurred finder's fees totaling $12,000 in connection with the Closing. All securities issued in connection with the Private Placement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation and the policies of the TSX Venture Exchange, pursuant to which they may not be sold or transferred until July 18, 2023.Repricing of share purchase warrantsThe Company is pleased to announce that approval was obtained from the TSX Venture Exchange to reduce the exercise price of the 6,200,000 share purchase warrants issued in connection with the November 25, 2022 private placement from $0.30 to $0.205 through November 25, 2023 and from $0.40 to $0.30 from November 26, 2023 through November 24, 2024 (see news release dated March 7, 2023).All other terms of the warrants remain unchanged. Warrant holders are advised that replacement warrant certificates will not be issued and that the original warrant certificate must be presented to the Company in order to exercise the warrants. No changes to terms of the 1,500,000 finder warrants that were issued in connection with the November 2022 non-brokered private placement are being contemplated. About Cabral Gold Inc.The Company is a junior resource company engaged in the identification, explorat...