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Canadian Gold Resources Announces LIFE Sale of 7,000,000 Non-Flow Through Units for Gross Proceeds of $1,050,000
Dieppe, New Brunswick--(Newsfile Corp. - January 30, 2026) - Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") is very pleased to anno
About this update from Canadian Gold Resources Ltd.
[{"type":"text","content":" Dieppe, New Brunswick--(Newsfile Corp. - January 30, 2026) - Canadian Gold Resources Ltd. (TSXV: CAN) (\"Canadian Gold\" or the \"Company\") is very pleased to announce that, on January 29, 2026, it completed the sale of 7,000,000 non flow-through units (an \"NFT Unit\") at a price of $0.15 per NFT Unit under its previously announced listed issuer financing exemption offering (the \"LIFE Offering\") (see the Company's news release dated December 29, 2025) for gross proceeds of $1,050,000. Each NFT Unit is comprised of one common share (a \"Common Share\") and one share purchase warrant (a \"Warrant\"), each Warrant entitling the holder to acquire one additional Common Share of the Company at a price of $0.22 per share for a period of 36 months from the date of issuance provided, however, that should the closing price at which the Common Shares trade on the TSXV (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceed $0.45 for ten (10) consecutive trading days at any time following the date that is four months and one day after the date of issuance, the Company may accelerate the warrant term (the \"Reduced Warrant Term\") such that the Warrants shall expire on the date which is 30 business days following the date a press release is issued by the Company announcing the Reduced Warrant Term. In connection with the sale of the NFT Units, the Company paid $79,640 cash finder's fees and issued 530,933 finder's warrants (each a \"Finder's Warrant\") to eligible arm's length parties. Each Finder's Warrant entitles the holder thereof to purchase one Common Share at a price of $0.15 for a period of 36 months from the date of issuance. The Finder's Warrants are subject to the same acceleration provisions as the Warrants. The net proceeds from the sale of the NFT Units will be used for the purchase of assets for use on the Company's Lac Arsenault project, the Robidoux project and VG Boulder project as well as corporate overhead expenditures which do not qualify as flow-through expenses for funds raised through the sale of flow-through units. Combined with the $2,016,297.90 raised on December 31, 2025 through the sale of flow-through units under the LIFE Offering and a concurrent non-brokered private placement (see the Company's news release dated January 2, 2026), the Company has...