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Canadian Gold Resources Announces Non-Brokered $3 Million LIFE Financing
Moncton, New Brunswick--(Newsfile Corp. - October 23, 2025) - Canadian Gold Resources Ltd. (TSXV:...
About this update from Canadian Gold Resources Ltd.
[{"type":"text","content":"Canadian Gold Resources Announces Non-Brokered $3 Million LIFE FinancingMoncton, New Brunswick--(Newsfile Corp. - October 23, 2025) - Canadian Gold Resources Ltd. (TSXV: CAN) (the \"Company\" or \"Canadian Gold\") announces a non-brokered listed issuer financing exemption (\"LIFE\") private placement financing (the \"Offering\") for total gross proceeds of up to $3.0 million, with up to $2,000,000 in units (\"NFT Units\") and up to $1,000,000 in flow-through units (\"FT Units\"). The Company has engaged Research Capital Corporation (the \"Finder\") as exclusive finder and sole booker runner to assist with the Offering.The NFT Units are priced at $0.20 per NFT Unit. Each NFT Unit will be comprised of one (1) common share (a \"Common Share\") and one (1) Common Share purchase warrant of Canadian Gold (a \"NFT Warrant\"). Subject to the restrictive period described below, each NFT warrant is exercisable for 3 years from the Closing Date at an exercise price of $0.28 per Common Share.The FT Units are priced at $0.30 per FT Unit. Each FT Unit will be comprised of one (1) flow-though common share (a \"FT Share\") and one half of one (1/2) Common Share purchase warrant of Canadian Gold (the \"FT Warrant\"). Subject to the restrictive period described below, each whole FT warrant will be exercisable for 3 years from the Closing Date at an exercise price of $0.40 per Common Share.Upon closing of the Offering, the Common Share component of the NFT and FT Units will be free trading in Canada. As the Company completed a financing less than 12 months ago (see the Company's new release dated January 2, 2025), all FT and NFT Warrants in this Offering will be restricted from being exercised for a period of 61 days after closing to ensure compliance with the dilution restriction in section 5A.2(h) of the LIFE exemption in National Policy 45-106. Any Common Shares issued upon exercise of a NFT or FT Warrant after the restrictive period expires will be free trading in Canada.The net proceeds from this Offering will be used for exploration and drilling on the Lac Arsenault project, the Robidoux project and VG Boulder project as well as working capital.The NFT Units and the FT Units will be offered for sale in each of the provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption (the \"Listed Issuer Financing Exemption\")...