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Cartier Iron Announces Marketed Private Placement of Units & Flow-Through Units
(In Canadian Dollars unless otherwise stated) TORONTO, June 14, 2021 (GLOBE NEWSWIRE) -- Cartier Iron Corporation (CSE:CFE) (“Cartier Iron” or the “Company”) is
About this update from Cartier Silver Corporation
[{"type":"text","content":" (In Canadian Dollars unless otherwise stated) TORONTO, June 14, 2021 (GLOBE NEWSWIRE) -- Cartier Iron Corporation (CSE:CFE) (“Cartier Iron” or the “Company”) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. (“Cormark”) pursuant to which Cormark has agreed to act as an agent in connection with a fully marketed private placement offering of up to 11,111,200 units of the Company (the “Units”) at a price of $0.09 per Unit for gross proceeds of up to $1,000,008; and up to 25,000,000 flow-through units of the Company (the “Flow-Through Units”, collectively with the Units, the “Offered Units”) at a price of $0.12 per Flow-Through Unit for gross proceeds of up to $3,000,000 (the “Offering”). Each Unit will consist of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Flow-Through Unit will consist of one Common Share that qualifies as a “flow-through share” for the purposes of the Income Tax (Canada) (a “Flow-Through Share”) and one Warrant. Each Warrant will entitle the holder to acquire one Common Share of the Company at an exercise price of $0.14 for a period of 36 months following the closing of the Offering. The Company has granted Cormark an option, exercisable in whole or in part, in the sole discretion of Cormark, for a period of 30 days from and including the closing date of the Offering, to purchase additional Offered Units, in an aggregate amount not to exceed 15% of the Offered Units sold pursuant to the Offering, on the same terms and at the same price as the Offered Units sold under the Offering. Additionally, the Company is pleased to welcome a number of well-known mining entrepreneurs and executives as new shareholders, a list which includes Peter Marrone, the founder and Executive Chairman of Yamana Gold Inc., who has known Dr. Bill Pearson, P. Geo., Chief Technical Advisor for Cartier, since 2006. Mr. Marrone stated, “Bill was instrumental in initially conveying the geological potential of the Jacobina complex which we purchased in 2006. He demonstrated his abilities as a conceptual and structural geologist able to find large geologic structures with high quality resources potential. It comforts me that he is applying these skills and experience to Cartier.” Production at the Jacobina complex has more t...