Business
Cassiar Gold Announces Increase in Private Placement to $6 Million
Calgary, Alberta--(Newsfile Corp. - October 8, 2020) -   Cassiar Gold Corp. (TSXV: GLDC)...
About this update from Cassiar Gold Corp
[{"type":"text","content":"Cassiar Gold Announces Increase in Private Placement to $6 MillionCalgary, Alberta--(Newsfile Corp. - October 8, 2020) -  Cassiar Gold Corp. (TSXV: GLDC) (OTCQB: MARFD) (\"Cassiar\" or the \"Company\") is pleased to announce that due to strong investor demand it has increased the size of its private placement previously announced on September 30, 2020. Cassiar now proposes to sell up to $1.5 million in units (\"Units\") at a price of C$0.60 per Unit and $4.5 million flow-through units on a \"CEE flow-though\" basis (\"Flow-Through Units\") sold to traditional buyers at a price of C$0.70 per Flow-Through Unit and to charitable buyers at a price C$0.82 per Flow-Through Unit for gross proceeds of up to $6.0 Million (the \"Offering\").Each Unit will consist of one common share (\"Common Share\") in the capital of the Company and one half of one Common Share purchase warrant (\"Warrant). Each Flow-Through 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 half of one flow-through Warrant (\"FT Warrant\"). Each whole Warrant will be exercisable by the holder thereof to acquire one Common Share (a \"Warrant Share\") at a price of C$0.90 for a period of 24 months following the closing date of the Offering. Red Cloud Securities Inc. will be acting as a finder in connection with the Offering. All other terms are as described in the initial private placement news release.Proceeds of the Offering will be used to pursue the Company's ongoing exploration and drilling programs and for general working capital. The securities issued pursuant to the Offering will be subject to a four month hold period under applicable securities laws. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder warrants.About Cassiar Gold Corp.Cassiar Gold Corp. (TSX.V: GLDC) (OTCQB: MARFD) is a Canadian gold exploration company focused on exploration in British Columbia, and is directed by a group of highly successful business executives. The company has two important assets, the Cassiar Gold Project and the Sheep Creek Gold District. Both are orogenic gold projects, similar to the Barkerville District of central British Columbia.Forward Looking StatementsThis press release may contain forward looking statements including those...