Business
Cassiar Gold Announces Private Placement for $5 Million
Calgary, Alberta--(Newsfile Corp. - June 20, 2025) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) ("Cassiar Gold" or the "Company") has arranged a non-brokered private placement of flow through units (the "FT Units") for gross proceeds of C$5 million (the "Offering") with proceeds to be used to fund ongoing and future exploration and drill programs, at its flagship Cassiar Gold Project in northern British Columbia, Canada.Each FT Unit will consist of one common share ...
About this update from Cassiar Gold Corp
[{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - June 20, 2025) - Cassiar Gold Corp. (TSXV: GLDC) (OTCQX: CGLCF) ("Cassiar Gold" or the "Company") has arranged a non-brokered private placement of flow through units (the "FT Units") for gross proceeds of C$5 million (the "Offering") with proceeds to be used to fund ongoing and future exploration and drill programs, at its flagship Cassiar Gold Project in northern British Columbia, Canada.‎","length":475,"tagName":"p"},{"type":"text","content":"Each FT Unit will consist of one common share in the capital of the Company (each, a "Common Share") at a price of C$0.36 per FT Unit, issued on a "Canadian Exploration Expense (CEE) flow-through" basis pursuant to the Income Tax Act (Canada), and one Common Share purchase warrant (each, a "Warrant"). Each Warrant will be exercisable by the holder to acquire one Common Share at a price of C$0.50 for a period of 24 months following the closing date of the Offering.","length":498,"tagName":"p"},{"type":"text","content":"In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder warrants.","length":112,"tagName":"p"},{"type":"text","content":"The Company will 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 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, with such expenses to be incurred on or before December 31, 2026, and the Company will renounce all the Qualifying Expenditures in favour of the subscribers of the FT Units effective December 31, 2025.","length":720,"tagName":"p"},{"type":"text","content":"Certain insiders of the Company are anticipated to participate in the Offering, and such participation by insiders will constitute a related party transaction as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from...