Business
Cassiar Gold Announces $3 Million Non-Brokered Private Placement of Flow-Through Units Led by Crescat Capital
Hong Kong and Calgary, Alberta--(Newsfile Corp. - July 27, 2021) - Cassiar Gold Corp. (TSXV: G...
About this update from Cassiar Gold Corp
[{"type":"text","content":"Cassiar Gold Announces $3 Million Non-Brokered Private Placement of Flow-Through Units Led by Crescat CapitalHong Kong and Calgary, Alberta--(Newsfile Corp. - July 27, 2021) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) (\"Cassiar\" or the \"Company\") is pleased to announce a non-brokered private placement of flow-through units (\"FT Units\") and premium flow-through units (\"Premium FT Units\") for gross proceeds of up to $3 Million (the \"Offering\"). Proceeds of the Offering will be used to advance the ongoing exploration and drilling programs at the Company's flagship Cassiar Gold Project in northern British Columbia.The Company will issue up to 5,000,000 Units, each at a price of $0.60 per unit. Each FT Unit will consist of one common share issued on a \"CEE flow-through\" basis pursuant to the Income Tax Act (Canada) (\"CEE Share\") and one flow-through Warrant (\"FT Warrant\"). Each FT Warrant will be exercisable by the holder thereof to acquire one CEE Share at a price of C$0.675 for a period of 24 months following the closing date of the Offering. Each Premium FT Unit will consist of one CEE Share and one Warrant (\"Warrant\"). Each Warrant will be exercisable by the holder thereof to acquire one common share in the capital of the Company at a price of C$0.675 for a period of 24 months following the closing date of the Offering.\"Cassiar Gold holds a commanding large land position covering most of the Cassiar high-grade orogenic gold field in northern British Columbia,\" commented Quinton Hennigh, technical advisor to Crescat Capital. \"High-grade gold mineralization occurs in steeply dipping tension structures in between stacked flat shear zones underlying the region. Exploring such targets requires expertise in structural geology, and the Company has one of the best such geologists, David Rhys, on their team along with several other heavyweight explorers. We like putting money behind smart people, and at Cassiar, one has a strong team focused on an exceptional high-grade gold field.\"\"We are very pleased to welcome Crescat Capital as a long-term strategic investor,\" said Marco Roque, CEO of Cassiar Gold. \"The proceeds from this financing will allow us the flexibility to increase our work program this year as well to continue to build the breadth and depth of high-quality institutional investors in our sharehold...