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Golden Cariboo Resources To Close Private Placement Oversubscribed
June 23, 2025 – TheNewswire - Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announces further t
About this update from Golden Cariboo Resources Ltd.
[{"type":"text","content":"June 23, 2025 – TheNewswire - Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announces further to the June 4, 2025 news release the Company will be closing the private placement oversubscribed. The private placement will close with gross proceeds of $1,324,900 through the issuance of 17,665,335 units (each a “Unit”) at a price of $0.075 per Unit. Each unit will consist of one common share and one share purchase warrant. Each warrant will be exercisable for a period of five years from June 26, 2025 at exercise prices as follows: $0.12 in year one, $0.14 in year two, $0.16 in year three, $0.18 in year four and $0.20 in year five. In connection with the private placement, certain eligible persons (“Finders”) will be paid 8% cash commissions 8% finder warrants, each finder warrant entitling the holder to acquire one common share at the same terms as the subscriber warrants. Insider participation totals 1,800,000 Units for $135,000. The issuance of Units to insiders is considered a related party transaction subject to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The Company relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that the participation in the Offering by the insiders did not exceed 25 per cent of the fair market value of the Company's market capitalization. About Golden Cariboo Resources Ltd. Golden Cariboo Resources Ltd. is rediscovering the Cariboo Gold Rush by proceeding with highly targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine property which is bordered by Osisko Development (NSE:ODV/TSXV:ODV), partly intertwined with them at the north end of the Cariboo Gold Project, and located along a favorable corridor adjacent to the Spanish and Eureka thrust faults over a 94,899 hectare (234,501 acre) area. Historically, over 101 placer gold creeks on the 90-kilometer (56 mile) trend from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine property have recorded production and successful placer mining continues to this day. Golden Cariboo’s Quesnelle Gold Quartz Mine property is 4 kilometers (2.5 miles) nor...