Business
Golden Cariboo Closes $500,000 Private Placement
(TheNewswire) Vancouver, BC - TheNewswire - March 23, 2023 - Golden Car...
About this update from Golden Cariboo Resources Ltd.
[{"type":"text","content":"Golden Cariboo Closes $500,000 Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver,\n \n \n BC\n \n \n -\n \n \n TheNewswire -\n \n \n March 23, 2023 -\n \n \n Golden Cariboo Resources Ltd. (the “\n \n \n Company\n \n \n ”)\n \n \n (TSXV:GCC)\n \n \n is pleased to announce the private placement announced on\nMarch 3, 2023 has closed.  Gross proceeds of $500,000 were raised\nthrough the issuance of 10,000,000 units at $0.05.  Units consist of\none common share and one half share purchase warrant.  Each whole\nwarrant will be exercisable into one common share for three years at a\nprice of $0.10.  Finder's fees of $21,000 and 210,000 warrants\nexercisable into one common share for three years at a price of $0.10\nwill be paid in connection with the private placement.  The private\nplacement is subject to TSX Venture Exchange approval and all\nsecurities are subject to a four month hold period.\n \n \n \n \n Insider participation of $25,000 in this private\nplacement\n \n \n \n constitutes a\n“related party transaction” as defined under Multilateral\nInstrument 61-101\n \n \n \n \n Protection of Minority Security Holders in Special\nTransactions\n \n \n \n \n (“\n \n \n \n \n MI 61-10\n \n \n \n \n 1”).\nSuch participation is exempt from the formal valuation and minority\nshareholder approval requirements of MI 61-101 as neither the fair\nmarket value of the Units acquired by the insider, nor the\nconsideration for the Units paid by such insider, exceed 25% of the\nCompany’s market capitalization.\n \n \n \n \n \n Proceeds will be used for property acquisitions and for\ngeneral working capital.\n \n \n \n \n \n \n About\nGolden Cariboo Resources Ltd.\n \n \n \n \n Golden Cariboo Resources Ltd. is rediscovering the\nCariboo Gold Rush by proceeding with high-grade targeted drilling and\ntrenching programs on its Quesnel Gold Quartz Mine project which is\nalmost fully encircled on 3 of 4 sides by Osisko Development.\n \n \n \n \n Golden Cariboo’s Quesnelle Gold Quartz Mine property\nis 4 km northeast of, and road accessible from, Hixon in central\nBritish Columbia. The Property includes the Quesnel Quartz gold-silver\ndeposit, which was discovered in 1865 in conjunction with placer\nmining activiti...