Business
Cartier Iron Announces Financing
TORONTO, May 22, 2019 (GLOBE NEWSWIRE) -- Cartier Iron Corporation (CSE: CFE) (“Cartier Iron” or the “Company”), is pleased to announce that it is proceeding wi
About this update from Cartier Silver Corporation
[{"type":"text","content":" TORONTO, May 22, 2019 (GLOBE NEWSWIRE) -- Cartier Iron Corporation (CSE: CFE) (“Cartier Iron” or the “Company”), is pleased to announce that it is proceeding with a non-brokered private placement (the “Private Placement”) of 4,000,000 flow-through units of Cartier Iron at a price of $0.10 per unit (“F-T Units”) for proceeds of $400,000 and 3,750,000 non-flow-through units of Cartier Iron at a price of $0.08 per unit (“Units”) for additional proceeds of $300,000. Each F-T Unit will consist of one common share in the capital of Cartier Iron (a “Common Share”) to be issued on a “flow-through” basis under the Income Tax Act (Canada) and one half of one Common Share purchase warrant (the “F-T Warrants”). Each whole F-T Warrant will entitle the holder to purchase one non-flow-through Common Share at a price of $0.15 per share for a term of 18 months following the closing of the Private Placement provided that, if the average closing price for the Common Shares on the Canadian Securities Exchange (the “CSE”) is at least $0.25 per share for 20 consecutive trading days (following the expiry of the four month hold period), the F-T Warrants will expire unless they are exercised within ten business days (or such longer period of time as the Company may provide) after the Company provides notice to accelerate the expiry date (the “Acceleration Notice”). Each Unit will consist of one Common Share in the capital of Cartier Iron and one half of one Common Share purchase warrant (a “Warrant”). Each whole Warrant will entitle the holder to purchase one Common Share at a price of $0.12 per share for a term of 18 months following the closing of the Private Placement provided that, if the average closing price for the Common Shares on the CSE is at least $0.25 per share for 20 consecutive trading days (following the expiry of the four month hold period), the Warrants will expire unless they are exercised within ten business days (or such longer period of time as the Company may provide) after the Company provides the Acceleration Notice. The net proceeds of the Private Placement will be used to finance exploration at the Lac Penguin Iron Deposit in the southern Labrador Trough, and be utilized as working capital. The Private Placement is subject to all required regulatory approval. Insiders of the Company may participate in the Private Placement. A...