Business
Cabral Gold Announces Upsizing of Best Efforts Financing to $13 Million
Vancouver, British Columbia--(Newsfile Corp. - April 25, 2025) - Cabral Gold Corp. (TSXV: CBR) (...
About this update from Cabral Gold, Inc.
[{"type":"text","content":"Cabral Gold Announces Upsizing of Best Efforts Financing to $13 MillionVancouver, British Columbia--(Newsfile Corp. - April 25, 2025) - Cabral Gold Corp. (TSXV: CBR) (OTCQX: CBGZF) (\"Cabral\" or the \"Company\") is pleased to announce that the Company has entered into an amending agreement with Paradigm Capital Inc. as sole agent (\"Agent\") to increase the size of its previously announced \"best efforts\" financing, pursuant to which the Agent may now arrange for the sale of up to 34,212,000 units of the Company (the \"Units\") at a price of C$0.38 per Unit (the \"Offering Price\") for gross proceeds of up to C$13,000,560 (the \"Upsized Offering\"). 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 of the Upsized Offering at an exercise price of $0.56 per Warrant Share.The Company has granted the Agent an option, exercisable, in whole or in part, for up to 30 days following the closing of the Upsized Offering, to sell the number of Units equal to up to an additional 15% of the Units sold pursuant to the Upsized Offering at the Offering Price to cover over-allotments, if any. In all other respects, the terms of the Upsized Offering and the use of proceeds therefrom remain as previously disclosed in the Company's press release dated April 23, 2025.The Units will be issued pursuant to a prospectus supplement (the \"Prospectus Supplement\") to the Company's short form base shelf prospectus dated April 4, 2025 (the \"Base Shelf Prospectus\") that will be filed with the securities' regulatory authorities in each of the provinces and territories of Canada, except Québec. Access to the Prospectus Supplement, Base Shelf Prospectus, and any amendments thereto is provided in accordance with applicable securities legislation relating to the procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. An electronic or paper copy of the Base Shelf Prospectus and the Prospectus Supplement, when available, may be obtained, without charge, from the Agent by e-mail at [email protected] by providing the Agent with an email...