Business
Canuc Closes Private Placement Tranche
Toronto, Ontario--(Newsfile Corp. - April 1, 2025) - Canuc Resources Corporation. (TSXV: CDA) (OT...
About this update from Canuc Resources Corporation
[{"type":"text","content":"Canuc Closes Private Placement TrancheToronto, Ontario--(Newsfile Corp. - April 1, 2025) - Canuc Resources Corporation. (TSXV: CDA) (OTCQB: CNUCF) (\"Canuc\" or the \"Company\") announces closing of the first tranche of its previously announced private placement financing (see press releases March 26, 2025, March 7, 2025, and February 13, 2025) with gross proceeds of $2,270,000 and the issuance of 22,700,000 Units. Each Unit consists of one common share (\"Common Share\") priced at $0.10 per share, and one common share purchase warrant (\"Warrant\"). Each Warrant entitles the holder to purchase one additional Common Share at $0.15 for a period of two years from the final closing date of the private placement. All securities sold in the private placement are subject to a hold period of 4 months and one day. Proceeds will be used for expenses associated with completing the acquisition of MacDonald Mines Exploration Ltd. and for the exploration and development of the Company's new and existing exploration and development assets. The private placement is subject to final acceptance by the TSX Venture Exchange.About MacDonald Mines Exploration Ltd.Founded in 1935, MacDonald Mines Exploration Ltd. is a mineral exploration company focused on the evaluation, acquisition, and development of precious and critical metals properties in Ontario. The company's flagship project, the 100% owned SPJ Project, spans 19,710 hectares and is situated approximately 40 kilometers northeast of the prolific Sudbury Mining Camp. and near to the extensive infrastructure of the adjacent Sudbury Mining District. The SPJ Project encompasses several centers of critical and precious metal mineralization interpreted to be related to a mineral system that can form IOCG and affiliated critical and precious mineral deposits. Included within the Project is the historical Scadding Gold Mine and associated gold mineralized system and gold bearing tailings. Minerals of interest on SPJ include copper (Cu), gold (Au), cobalt (Co), nickel (Ni) and rare earth elements (REE). MacDonald Mines Exploration Ltd. is committed to responsible and sustainable operations, prioritizing environmental stewardship, safety, and community engagement. About CanucFounded in 1952, Canuc Resources Corporation is a junior resource company focusing on the San Javier Silver-Gold Project in Sonor...