Cabral Gold Announces $2M Financing

About this update from Cabral Gold, Inc.

[{"type":"text","content":"Cabral Gold Announces $2M FinancingVancouver, British Columbia--(Newsfile Corp. - May 20, 2020) - Cabral Gold Inc. (TSXV: CBR) (OTC PINK: CBGZF) (\"Cabral\" or the \"Company\") is pleased to announce the terms of a non-brokered private placement of up to 16,000,000 common shares (\"Shares\") at a price of $0.125 per Share for gross proceeds of up to $2,000,000 (the \"Private Placement\"). Closing is expected by 19th June 2020.The Company intends to use the net proceeds from the Private Placement to drill recently identified high-grade gold targets at the Cuiú Cuiú gold project located in northern Brazil, and for general corporate and working capital purposes. The securities issued pursuant to the Private Placement will be subject to a four-month hold period from the closing date. Completion of the Private Placement and the payment of any finder's fees will be subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.Cabral may pay a cash finder's fee equivalent up to 7% of the gross proceeds of the Private Placement. Recap of Recent Results During the last 6 months, Cabral has announced the following drill results and identified a number of new targets at the Cuiú Cuiú gold project as follows;Drill results from the existing MG gold deposit and in particular hole 199-19 which returned 16.9m @ 9.6 g/t gold from 82.6m including 7.6m @ 18.5 g/t gold from 91.9m (see press release dated 7th November 2019)Additional drill results from the MG deposit including 14.2m @ 6.7 g/t gold from 109.4m depth including 5.6m @ 13.0 g/t gold from 109.4m and 0.9m @ 22.4 g/t gold from 121.3m depth in drill hole 202-19 confirming the along strike and down dip continuity of high-grade mineralization (see press release dated 20th January 2020)Additional drill results from a second zone of high-grade gold mineralization at MG including 7.8m @ 4.7 g/t gold including 0.6m @ 48.5 g/t gold in drill hole 201-19 (see press release dated 20th January 2020)Drill results from high grade portions of the Central deposit including 17.3m @ 2.1 g/t gold including 6.0m @ 4.9 g/t gold from 130.5m in hole 204-19 and 39.6m @ 1.3 g/t gold from 126.6m including 3.6m @ 6.0 g/t gold and 2m @ 5.0 g/t gold in hole 205-19 and 38.5m @ 1.5 g/t gold including 1.5m @ 6.0 g/t and 1.6m @ 8.6 g/t gold i...

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