Business
Cassiar Gold Announces Closing of $5.5 Million Private Placement Offering
Vancouver, British Columbia--(Newsfile Corp. - May 22, 2026) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) ("Cassiar Gold" or the "Company") is pleased to announce that, further to its news release dated April 30, 2026, the Company has completed a non-brokered private placement offering (the "Offering") raising gross proceeds of C$5,527,272.52. Pursuant to the Offering, the Company issued 7,272,727 flow-through units ("FT Units") at a price of C$0.76 per FT Unit for gross proceeds of...
About this update from Cassiar Gold Corp
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - May 22, 2026) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) ("Cassiar Gold" or the "Company") is pleased to announce that, further to its news release dated April 30, 2026, the Company has completed a non-brokered private placement offering (the "Offering") raising gross proceeds of C$5,527,272.52. Pursuant to the Offering, the Company issued 7,272,727 flow-through units ("FT Units") at a price of C$0.76 per FT Unit for gross proceeds of approximately C$5.5 million. The proceeds of the Offering will be used to fund ongoing and future exploration and drill programs, at the Company's flagship Cassiar Gold Project in northern British Columbia, Canada.","length":750,"tagName":"p"},{"type":"text","content":"Offering Details","length":16,"tagName":"p"},{"type":"text","content":"Each FT Unit consists of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"), each of which will qualify as a "flow-through share" pursuant to the Income Tax Act (Canada). Each Warrant will be exercisable by the holder to acquire one additional Common Share at a price of C$0.65 for a period of 22 months following the closing date of the Offering, provided that the exercise of the Warrants will be only be exercisable in the event the Company enters into an agreement with respect to a joint venture or other strategic transaction involving the Company's Cassiar South project area.","length":696,"tagName":"p"},{"type":"text","content":"The Company intends to use the gross proceeds from the sale of the FT Units to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures," as both such terms are defined in the Income Tax Act (Canada), and for British Columbia subscribers, "BC flow-through mining expenditures," as defined in the Income Tax Act (British Columbia), (the "Qualifying Expenditures"), on the Company's flagship Cassiar Gold Project in northern British Columbia, Canada. The Company will incur the Qualifying Expenditures on or before December 31, 2027, and will renounce all Qualifying Expenditures in favour of the subscribers of the FT Units effective December 31, 2026.","len...