Business
Cartier Resources Announces Private Placement of Flow-Through Units and Hard Dollar Units
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNIT...
About this update from Cartier Resources Inc.
[{"type":"text","content":"Cartier Resources Announces Private Placement of Flow-Through Units and Hard Dollar Units\n\n\n\n THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/\n \n\n VAL-D'OR, Québec, March 20, 2025 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSX-V: ECR) (\"Cartier\" or the \"Corporation\") is pleased to announce that it has entered into an agreement with Paradigm Capital Inc. (the \"Agent\") in connection with a \"best efforts\" private placement offering (the \"Offering\") of securities of Cartier for aggregate gross proceeds of up to $7,300,160, through a combination of: (i) 21,740,000 units of the Corporation issued on a charitable flow-through basis that will qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (Canada) and section 359.1 of the\n \n Taxation Act\n \n (Québec)) (the \"Premium FT Units\") at $0.23 per Premium FT Unit for gross proceeds of $5,000,200; and (ii) 17,692,000 units of the Corporation (the \"Hard Dollar Units\") and, together with the Premium FT Units, the \"Offered Securities\") to be issued at $0.13 per Hard Dollar Unit for gross proceeds of $2,299,960.\n \n\n Each Premium FT Unit will consist of one common share in the capital of the Corporation (each a \"Common Share\") and one common share purchase warrant (each a \"Premium FT Warrant\"), and each such Common Share and Premium FT Warrant will qualify as a \"flow-through share\" (within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (Canada) and section 359.1 of the\n \n Taxation Act\n \n (Québec)).\n \n\n Each Hard Dollar Unit will consist of one Common Share of the Corporation and one common share purchase warrant (each a \"Hard Dollar Warrant\"), and for certainty, each such Common Share and Hard Dollar Warrant will not qualify as a \"flow-through share\".\n \n\n Each Premium FT Warrant and Hard Dollar Warrant will entitle the holder thereof to acquire one Common Share of the Corporation (each a \"Warrant Share\") on a non-flow-through basis at an exercise price of $0.18 for a period of 5 years following the closing date of the Offering.\n \n\n The expiry of both the Premium FT Warrants and the Hard Dollar Warrants may be accelerated by the Corporation if the daily volume-weighted average trading price of the ...