Business
Carlin Announces Closing of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 16, 2023) - Carlin Gold Corporation (TSXV: CG...
About this update from Carlin Gold Corporation
[{"type":"text","content":"Carlin Announces Closing of Private PlacementVancouver, British Columbia--(Newsfile Corp. - June 16, 2023) - Carlin Gold Corporation (TSXV: CGD) (the \"Company\" or \"Carlin\") is pleased to announce that it has closed its previously announced non-brokered private placement (the \"Private Placement\") whereby the Company has completed the issuance of 5,050,000 units (each, a \"Unit\") at a price of $0.12 per Unit (on a post-Consolidation basis) for gross proceeds of $606,000.Each unit consists of one common share of the Company and one common share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder, on exercise thereof, to purchase one additional common share of the Company at a price of $0.20 per share for a period of five years from the completion of the Private Placement. The Private Placement is subject to all necessary regulatory approvals, including final acceptance from the TSXV. All securities issued in connection with the Private Placement will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The proceeds from the Private Placement are intended to be used for general working capital purposes. Carlin also wishes to correct a statement made in its previously disseminated press release dated May 6, 2023 in which it announced the Company's transfer agent as Computershare Investor Services. The Company wishes to correct this disclosure and clarify that the Company's transfer agent is Computershare Trust Company of Canada.About CarlinCarlin controls two 100% owned gold exploration properties in Nevada, the Cortez Summit property and Willow property, both containing Carlin-style gold targets.Cortez Summit lies about 1 kilometer north-east of the north end of Nevada Gold Mines' (\"NGM\") Goldrush deposit and east of Barrick Gold Corporation's (\"Barrick\") Fourmile resource. The Goldrush deposit, currently under development, has a reported underground mineral resource with 6.6 million oz grading 7.8 g/t. indicated and 1.2 million oz grading 7.6. g/t Au inferred, for an attributable (61.5%) total of 7.8 million oz (Barrick 2019 annual report) of the overall NGM resource of 12.7 million oz. The Fourmile resource, owned by Barrick, and locat...