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Cascadia Minerals Ltd. Announces up to C$1M Non-Brokered Private Placement with Support of Strategic Investor Michael Gentile
Cascadia Minerals Ltd. Announces up to C$1M Non-Brokered Private Placement with Support of Strate...
About this update from Cascadia Minerals Ltd
[{"type":"text","content":"\n\n\n\n Cascadia Minerals Ltd. Announces up to C$1M Non-Brokered Private Placement with Support of Strategic Investor Michael Gentile\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Nov. 28, 2024\n \n\n /CNW/ - Cascadia Minerals Ltd. (\"\n \n Cascadia\n \n \") (TSXV: CAM) is pleased to announce a non-brokered private placement (the \"\n \n Offering\n \n \") of up to approximately\n \n $1,000,000\n \n .\n \n Michael Gentile\n \n , one of Cascadia's largest shareholders, plans to participate in the financing to maintain his 9.99% position on a partially diluted basis.\n \n\n\n\n\n\n\n\n\n The Offering will consist of the sale of:\n \n\n i.            Non-flow-through units (the \"\n \n NFT Units\n \n \") to be sold at a price of\n \n $0.09\n \n per NFT Unit; and\n \n\n ii.            Critical minerals flow-through common shares (the \"\n \n FT Shares\n \n \") at a price of\n \n $0.10\n \n per share.\n \n\n Each NFT Unit will comprise one common share and one-half of one common share purchase warrant. Each full warrant shall be exercisable into one additional common share for twenty-four (24) months from closing at an exercise price of\n \n $0.15\n \n . The exact number of NFT Units and FT Shares sold will be determined at closing of the Offering.\n \n\n The proceeds from the sale of the FT Shares will be used for \"Canadian critical minerals exploration expenses\" at Cascadia's\n \n Yukon\n \n and\n \n British Columbia\n \n properties. These expenditures will qualify as \"critical mineral flow-through mining expenditures\" within the meaning of the Income Tax Act (\n \n Canada\n \n ). The proceeds from the sale of the NFT Units will be used for general working capital.\n \n\n\n \"This financing will allow us to plan for an early start to diamond drilling ...