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Canadian North Resources Inc. Announces Proposed Closing Date of its Private Placement
TORONTO, ON / ACCESSWIRE / September 1, 2023 / Canadian North Resources Inc. (the " Corporation ...
About this update from Canadian North Resources, Inc.
[{"type":"text","content":"Canadian North Resources Inc. Announces Proposed Closing Date of its Private PlacementTORONTO, ON / ACCESSWIRE / September 1, 2023 / Canadian North Resources Inc. (the \"Corporation\") (TSX-V:CNRI)(OTCQX:CNRSF)(FSE:(E-0-0)) announces further to its News Releases of July 27, 2023 and August 2, 2023 that closing of the second tranche of the private placement of common shares issuable on a flow-through basis pursuant to the Income Tax Act (Canada) at a price of $2.877 per share (the \"Charity Flow-Through Offering\") has been extended for not later than Wednesday, September 13, 2023.Finder's fees in relation to the Charity Flow-Through Offering will be paid in cash in an amount equal to 6% of the gross proceeds of the Charity Flow-Through Offering.The gross proceeds of the Charity Flow-Through Offering will be used to fund the Corporation's exploration activities targeting critical minerals on the Corporation's Ferguson Lake project located in Nunavut, and will also be eligible for the recently announced federal 30% Critical Metals Exploration Tax Credit.About Canadian North Resources Inc.Canadian North Resources Inc. is an exploration and development company focusing on the critical metals for clean-energy, electric vehicles, battery and high-tech industries. The Corporation is advancing its 100% owned Ferguson Lake nickel, copper, cobalt, palladium, and platinum project in Nunavut, Canada.Forward-Looking StatementsThe information and statements in this news release contain certain forward-looking information. This forward-looking information relates to future events or the Corporation's future performance. In particular, this document contains forward-looking information and statements regarding the use of proceeds of the Charity Flow-Through Offering. All statements other than statements of historical fact may be forward-looking information. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking information. These assumptions include that, in respect of the use of proceeds, historical costs and expenses will be representative of future costs and expenses. The Corporation's actual results, performance or achievement could differ materially from those expressed in, or...