Business
Cabral Gold Inc. Completes Business Combination and Private Placement
Cabral Gold Inc. Completes Business Combination and Private Placement Canada NewsW...
About this update from Cabral Gold, Inc.
[{"type":"text","content":"\n\n\n\nCabral Gold Inc. Completes Business Combination and Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Oct. 31, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./\n\n\n\nVANCOUVER, Oct. 31, 2017 /CNW/ - Cabral Gold Inc. (formerly San Angelo Oil Limited) (the \"Company\") (TSXV: CBR) is pleased to announce that it has completed the previously announced business combination with Cabral Gold Ltd. (\"Cabral\") and 1116669 B.C. Ltd. (the \"Transaction\"). The Company changed its name from \"San Angelo Oil Limited\" to \"Cabral Gold Inc.\" and completed a share consolidation. In connection with the completion of the Transaction, the Company's common shares are expected to commence trading on a consolidated basis on the TSX Venture Exchange under the symbol \"CBR\" at the open of the market on or about November 2, 2017.\n\nFinancing by Cabral\n\nShortly prior to closing of the Transaction, Cabral completed a third tranche of its private placement financing (the \"Offering\"). The third tranche was completed on a non-brokered basis, with Cabral raising gross proceeds of approximately $559,000 through the sale of 5,175,334 subscription receipts (the \"Subscription Receipts\") at a price of $0.108 per Subscription Receipt. In connection with the third tranche of the Offering, Cabral issued a total of 238,323 special warrants (the \"Special Warrants\") to various finders and paid cash finders' fees totalling approximately $25,739 to the finders. \n\nCabral raised total gross proceeds of approximately $4.16 million in the Offering, through the sale of 38,507,414 Subscription Receipts. Immediately prior to the closing of the Transaction, each Subscription Receipt issued in the Offering was converted, without additional consideration into one unit of Cabral which, in conjunction with the closing of the Transaction, was exchanged for 0.18 of one unit of the Company. Each whole unit ...