Business
Canadian Royalties Closes C$6.1 Million Private Placement Financing
/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/ MONTREAL, July 2 /...
About this update from Cleghorn Minerals Ltd.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE\n\n\nSERVICES/\n\n\nMONTREAL, July 2 /CNW Telbec/ - Canadian Royalties Inc. (TSX: CZZ) today\nannounced that it has closed a non brokered private placement financing of\n2,028,234 flow-through common shares at a price of $3.00 per share for gross\nproceeds of $6,084,702. Several Flow Through LP's managed by Mavrix Fund\nManagement Inc. purchased a total 2,000,000 of the available units.\n\n\nThe proceeds from the offering will be used to fund the Company's\nadvanced exploration programs, primarily in respect of its Raglan South Nickel\nproject located in Nunavik, Quebec. In connection with the private placement,\nthe Company has paid a finder's fee to Anthem Capital Group Inc.\n\n\nAbout Canadian Royalties and the Nunavik Nickel Project\n\n\nCanadian Royalties has initiated the development of an independent,\nstand-alone nickel-copper mine on its Nunavik Nickel Project, located\n20 kilometres south of Xstrata Nickel's Raglan Mine in Nunavik, Quebec.\nCanadian Royalties has now received its Environmental Certificate of\nAuthorization and is proceeding with construction.\n\n\n","length":1220,"tagName":"div"}]