The Prospector News

Cartier Iron Announces Closing of Marketed Private Placement of Units & Flow-Through Units

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Cartier Iron Announces Closing of Marketed Private Placement of Units & Flow-Through Units

 

 

 

 

 

Cartier Iron Corporation (CSE:CFE)  is pleased to announce that it has closed its previously announced fully marketed private placement offering (see press releases dated June 14, 2021 and June 17, 2021) with Cormark Securities Inc. acting as the agent. Under the Offering, which includes the exercise in full of the option granted to Cormark, the Company issued: (i) 19,166,667 units of the Company at a price of $0.09 per Unit for gross proceeds of $1,725,000.03, and (ii) 28,750,000 flow-through units of the Company at a price of $0.12 per Flow-Through Unit for gross proceeds of $3,450,000.

 

Each Unit consists of one common share of the Company and one Common Share purchase warrant of the Company. Each Flow-Through Unit consists of one Common Share and one Warrant, each of which qualifies as a “flow-through share” for the purposes of the Income Tax Act (Canada). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.14 for a period of 36 months following the closing of the Offering.

 

The net proceeds from the sale of the Units will be used for exploration expenditures and for working capital and general corporate purposes. The proceeds from the sale of the Flow-Through Units will be used on exploration expenses as permitted under the Income Tax Act (Canada) to qualify as “Canadian exploration expenses”.

 

Additionally, the Company would like to again welcome as a new Company shareholder Peter Marrone, the founder and Executive Chairman of Yamana Gold Inc., who has known Dr. Bill Pearson, P. Geo., Chief Technical Advisor for Cartier, since 2006.

 

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

 

About Cartier Iron Corporation

 

Cartier Iron is an exploration and development Company focused on discovering and developing significant iron ore resources in Quebec, and a potentially significant gold property in the province of Newfoundland and Labrador. The Company’s iron ore projects include the Gagnon Holdings in the southern Labrador Trough region of east-central Quebec. The Big Easy gold property is located in the Burin Peninsula epithermal gold belt in the Avalon Zone of eastern Newfoundland.

 

Posted July 7, 2021

Share this news article

MORE or "UNCATEGORIZED"


VIZSLA SILVER AGREES TO ACQUIRE NEWLY CONSOLIDATED PAST-PRODUCING SILVER DISTRICT IN THE EMERGING SILVER-GOLD-RICH PANUCO - SAN DIMAS CORRIDOR IN MEXICO

Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) i... READ MORE

March 28, 2024

Additional Drill Results Highlighted by Hole D-380 in Block 6 at Oko West, Intersecting 39.7 m Grading 5.27 g/t Au Including 2.8 m @ 14.18 g/t Au and 13.0 m Grading 10.50 g/t Au

Reunion Gold Corporation (TSX-V: RGD) (OTCQX: RGDFF) is pleased t... READ MORE

March 28, 2024

STLLR Gold’s Tower Gold Project Infill Drilling Continues to Confirm Mineralization at the Jonpol Deposit

STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) announces ... READ MORE

March 28, 2024

Hudbay Provides Annual Reserve and Resource Update and Production Outlook

Consolidated copper production is expected to average 153,000i to... READ MORE

March 28, 2024

Aya Gold & Silver: Record 2023 Production, Revenue and Operating Cash Flow

Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased t... READ MORE

March 28, 2024

Copyright 2024 The Prospector News