The Prospector News

Canadian North Resources Receives Total Proceeds of $9,186,597 From Exercise of Warrants

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Canadian North Resources Receives Total Proceeds of $9,186,597 From Exercise of Warrants

 

 

 

 

 

Canadian North Resources Inc. (TSX-V: CNRI) (OTCQX: CNRSF) (FSE: EO0) announces the completion of the redemption of its outstanding purchase Warrants. The Warrants were issued in connection with the Company’s offering of units completed prior to listing and expired on December 29, 2023.

 

The Company has received total proceeds of $9,186,597 from the exercise of 6,124,398 warrants between January 1, 2023 and December 29, 2023. With the exercise of these Warrants, there are no remaining outstanding Warrants.

 

Insiders exercised 2,874,394 share purchase warrants (each a “Warrant” to purchase one share at $1.50) for aggregate proceeds of $4,311,591. Warrants were issued in connection with the Company’s offering of units completed prior to listing.

 

“We would like to thank our long-time shareholders for such a strong vote of confidence in Canadian North Resources,” said Sophy Cesar, Head of Corporate Development. “The results from the warrant exercises are a strong sign of support for CNRI’s strategy to demonstrate that the Ferguson Lake project is a world-class deposit.”

 

About Canadian North Resources

 

Canadian North Resources Inc. is an exploration and development company focusing on the critical metals for the clean-energy, electric vehicles, battery and high-tech industries. The company is advancing its 100% owned Ferguson Lake nickel, copper, cobalt, palladium, and platinum project that covers an area of 253.8 km2 of mining leases (96.9 km2) and surrounding exploration claims (156.9 km2) in the Kivalliq Region of Nunavut, Canada.

 

The Ferguson Lake mining property contains substantial resources in compliance with NI43-101 standards, which include Indicated Mineral Resources of 24.3 million tonnes containing 455 million pounds copper at 0.85%, 321Mlb nickel at 0.60%, 37.5Mlb cobalt at 0.07%, 1.08 million ounces palladium at 1.38gpt and 0.18Moz platinum at 0.23gpt; Inferred Mineral Resources of 47.2 million tonnes containing 947Mlb copper at 0.91%, 551.5Mlb nickel at 0.53%, 62.4Mlb cobalt at 0.06%, 2.12Moz palladium at 1.4gpt and 0.38Moz platinum at 0.25gpt. The resource model indicates significant potential for resource expansion along strike and at depth over the 15 km long mineralized belt. (Refer to “Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, Prepared by Ronacher McKenzie Geoscience Inc. and Francis Minerals Ltd” filed by the Company to Sedar.com on July 13, 2022). In addition, the Company has identified the pegmatites with lithium potential at the Ferguson Lake project.

 

Posted January 16, 2024

Share this news article

MORE or "UNCATEGORIZED"


Lion Delivers High-Grade Copper Intercepts and Positive Metallurgy on Low-Low Grade Mineralization

Power Metallic Mines Inc. (TSX-V: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) is pleased to provide an u... READ MORE

May 26, 2026

Q2 Metals Announces Closing of C$70 Million Private Placement of Common Shares and Flow-Through Shares

Q2 Metals Corp. (TSX-V: QTWO) (OTCQB: QUEXF) (FSE: 458) is pleased to announce that the Company has ... READ MORE

May 26, 2026

Minera Alamos Closes US$75 Million Revolving Credit Facility with Scotiabank and National Bank, Strengthening Balance Sheet for Organic Growth Profile

Minera Alamos Inc. (TSX-V: MAI) (OTCQX: MAIFF) is pleased to announce that the Company has closed th... READ MORE

May 26, 2026

First Phosphate Reports Updated Mineral Resource Estimate for Bégin-Lamarche Phosphate Deposit

First Phosphate Corp (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (FSE: KD0)  is pleased to announ... READ MORE

May 26, 2026

Pecoy Copper Phase 1 Metallurgical Review Identifies Potential Step-Change in Gold Recovery and Optimization Opportunities

Pecoy Copper Corp. (TSX-V: PCU) (FSE: D5E) (OTCQB: PCUUF) is pleased to announce the results of a P... READ MORE

May 26, 2026

Copyright 2026 The Prospector News