Cascadia Minerals Announces Closing of Equity Investment

About this update from Cascadia Minerals Ltd

VANCOUVER, BC, April 23, 2026 /CNW/ - Cascadia Minerals Ltd. ("Cascadia") (TSXV: CAM) (OTCQB: CAMNF) is pleased to announce that it has closed its previously announced non-brokered private placement (the "Offering") with Agnico Eagle Mines Limited ("Agnico Eagle") (TSX: AEM) (NYSE: AEM) and certain other arms' length subscribers (the "Flow-Through Participants"). Unless otherwise indicated, all dollar amounts are stated in Canadian dollars. The Offering consisted of the issuance and sale of: 19,315,300 units of Cascadia (the "Subscribed Units") to Agnico Eagle at a price of $0.26 per Subscribed Unit for total gross proceeds of $5,021,978; and 10,000,000 critical minerals flow-through units (the "CFT Units") to the Flow-Through Participants at a price of $0.384 per CFT Unit for total gross proceeds of $3,840,000. Each Subscribed Unit consists of one common share of Cascadia (a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant is exercisable for one Common Share at a price of $0.32 per Warrant until April 23, 2028. The gross proceeds from the sale of the Subscribed Units will be used for general working capital purposes and to fund exploration activities at Cascadia's Carmacks Project. Each CFT Unit consists of one flow-through Common Share (a "CFT Share") and one-half of one Warrant. The CFT Units (including the CFT Shares and Warrants underlying the CFT Units) will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"). The gross proceeds from the sale of the CFT Units will be used for "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures", as both terms are defined in the Tax Act (the "Qualifying Expenditures"). The Qualifying Expenditures will be incurred in connection with critical minerals exploration at the Carmacks Property on or before December 31, 2027, and will be renounced to the Flow-Through Participants with an effective date no later than December 31, 2026, in an aggregate amount not less than the gross proceeds raised from the issuance of the CFT Units. Cascadia understands that Agnico Eagle has acquired the securities underlying the CFT Units from the Flow-Through Participants. No finders' fees were paid on any portion of the Offering. Pursuan...

View stock analysis, news, and events for Cascadia Minerals Ltd