Cabral Gold Announces Closing of Upsized Financing for $14.9 Million in Proceeds

About this update from Cabral Gold, Inc.

[{"type":"text","content":"Cabral Gold Announces Closing of Upsized Financing for $14.9 Million in ProceedsVancouver, British Columbia--(Newsfile Corp. - May 6, 2025) - Cabral Gold Corp. (TSXV: CBR) (OTCQX: CBGZF) (\"Cabral\" or the \"Company\") is pleased to announce that the Company has closed its previously announced \"best efforts\" public offering of units (the \"Offering\"). Pursuant to the Offering, the Company issued 39,291,146 units (the \"Units\") at a price of C$0.38 per Unit for gross proceeds of C$14,930,635, which included 5,079,146 Units issued pursuant to the exercise of the Agent's over-allotment option. Paradigm Capital Inc. acted as sole agent in the Offering (the \"Agent\"). Each Unit is 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 entitles the holder thereof to acquire one common share of the Company at a price of C$0.56 until May 6, 2027.The Company expects to use the net proceeds of the Offering for exploration and development of its Cuiú Cuiú project, as well as for working capital and general corporate purposes.In connection with the Offering, the Company paid the Agent a cash commission of $895,838, being 6.0% of the gross proceeds of the Offering, and issued the Agents 2,357,468 compensation warrants (\"Compensation Warrants\"), being 6.0% of the number of Units issued in the Offering. Each Compensation Warrant entitles the Agent to acquire one common share of the Company at C$0.38 until May 6, 2027. The Units were offered in Canada by way of a prospectus supplement of the Company dated April 25, 2025 (the \"Prospectus Supplement\") to the Company's existing short form base shelf prospectus dated April 4, 2025 (the \"Base Shelf Prospectus\"). The Units were also offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"). Copies of the Prospectus Supplement, Base Shelf Prospectus and documents incorporated by reference therein are available electronically on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.One officer of the Company participated in the Offering to purchase 131,579 Units for an aggregate price of C$50,000. Pursuant to M...

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