Cascadia Minerals Ltd. Announces Fully-Subscribed C$3.2M Non-Brokered Private Placement Led by Strategic Investor Michael Gentile
/NOT FOR DISTRIBUTION TO
The Offering will consist of the sale of:
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- Up to 4,550,000 critical minerals charity flow-through units for general exploration (the "CFT Units") at a price of
$0.42 per CFT Unit for total proceeds of up to approximately$1,900,000 ; - Up to 2,150,000 critical minerals charity flow-through units for
British Columbia exploration (the "BC CFT Units") at a price of$0.475 per BC CFT Unit for total proceeds of up to approximately$1,000,000 ; and, - Up to 725,000 traditional flow-through common shares at a price of
$0.42 for total proceeds of up to approximately$300,000 .
- Up to 4,550,000 critical minerals charity flow-through units for general exploration (the "CFT Units") at a price of
"I would like to thank Michael and our new and returning investors for their support at this exciting time for Cascadia. This financing will allow us to significantly expand the ongoing drill program at our Catch property, where our first 2024 diamond drill hole intersected mineralization over 140 m on a meaningful step-out from last year's porphyry discovery hole. Additionally, this raise will also allow us to drill test a compelling copper-gold porphyry target at our road accessible PIL property in the heart of BC's Toodoggone region," commented
Each CFT Unit and BC CFT Unit will consist of one charity flow-through common share and one-half of one warrant (each whole such common share purchase warrant, a "Warrant"). All Warrants will be issued on a non-flow-through basis, and shall be exercisable into one additional common share for thirty-six (36) months from closing at an exercise price of
The proceeds from the Offering will be used for "Canadian critical minerals exploration expenses" at Cascadia's Catch, Mack's Copper, Milner,
Finder's fees may be paid in accordance with
Cascadia is a Canadian junior mining company focused on making new copper and gold discoveries the
In addition to Catch, Cascadia is conducting exploration work at its Mack's Copper and Milner properties – recently staked Catch analogues within
On behalf of
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
This press release may contain "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. The Company undertakes no obligation to update forward-looking information, except as required by securities laws.
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