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Canter Resources Announces C$4 Million Non-Brokered Private Placement and Secures Water Rights for the Columbus Property
Vancouver, British Columbia--(Newsfile Corp. - November 28, 2023) - Canter Resources Corp. (CSE: CRC) (OTC Pink: CNRCF) (FSE: 6O1) ("Canter" or the "Company") i
About this update from Canter Resources Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - November 28, 2023) - Canter Resources Corp. (CSE: CRC) (OTC Pink: CNRCF) (FSE: 6O1) (\"Canter\" or the \"Company\") is pleased to announce that it will proceed with a non-brokered private placement of 8,000,000 units of the Company (the \"Units\") at $0.50 per Unit for gross proceeds of $4,000,000 (the \"Offering\"). Each Unit will consist of one common share in the capital of the Company (a \"Share\") and one-half of one transferrable common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder to purchase one additional Share at a price of $0.70 for a period of 24 months from the closing of the Offering. In the event that the closing price of the Shares of the Company on the CSE (or such other stock exchange on which the Shares are traded) is equal to or greater than $0.95 per Share for a period of 5 consecutive trading days during the Warrant exercise period, the Company may at its option elect to accelerate the expiry of the Warrants by providing notice to the holders thereof within 10 calendar days following the end of such 5 consecutive trading day period, in which case the Warrants will expire on the date specified in such notice, which shall be not less than 30 calendar days following delivery of such notice. The Company may pay finder's fees on the Offering within the amounts permitted by the policies of the Canadian Securities Exchange (\"CSE\"). The Company may issue additional Units for total gross proceeds of up to approximately $6,000,000 in the event the Offering is oversubscribed. The Company will use the net proceeds from the Offering to complete Phase I drilling at the Columbus Lithium-Boron Project, evaluate and stake additional claims prospective for critical metals, and for general corporate purposes. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Offering is not subject to a minimum aggregate amount of subscriptions. Water Right Appurtenance Agreement In addition, the Company is pleased to announce that, further...