The Prospector News

Cartier Resources Inc. Completes Private Placement of C$2.7M

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Cartier Resources Inc. Completes Private Placement of C$2.7M

 

 

 

 

 

Cartier Resources Inc. (TSX-V: ECR) announces that it has completed a non-brokered private placement of aggregate gross proceeds of $2,700,159 million.

 

Under the Private Placement, the Company issued 22,501,333 flow through common shares at a price of $0.12 per FT Share. The FT Shares will qualify as “flow through shares” for the purposes of the Income Tax Act (Canada).

 

The gross proceeds of the Private Placement will be used to incur “Canadian exploration expenses” which qualify as “flow through mining expenditures” (within the meaning of the Tax Act). The Company will renounce these expenses with an effective date no later than December 31, 2022 to the purchasers of the FT Shares.

 

In connection with the Private Placement, the Company paid a finder’s fee to Mine Equities Ltd., an exempt market dealer, comprised of an amount of $81,004 in cash and 900,053 common shares of the Company.

 

The closing of the Private Placement is subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a hold period of four months and one day in accordance with applicable Canadian securities laws.

 

About Cartier Resources Inc.

 

Cartier Resources Inc. was founded in 2006 and is a Val-d’Or based exploration company. The Company’s projects are all located in Quebec, which has consistently ranked as one of the world’s best mining jurisdictions. Cartier is advancing the development of its flagship Chimo Mine Project and actively exploring its other projects. Following this financing, the Company increased its strong cash position to more than $8.5 M and has significant corporate and institutional endorsement, including Agnico Eagle Mines, O3 Mining and Quebec investment funds.

 

Posted October 30, 2022

Share this news article

MORE or "UNCATEGORIZED"


Prospector Podcast - Chris Temple: Trump’s Fed Ultimatum, AI Bubble Risks, Gold’s Monetary Role and US–Canada Trade Tensions

The Prospector News Michael Fox and Chris Temple of the National Investo... READ MORE

September 9, 2026

Nord Intersects 20,675 g/t Silver over 0.3 Metres and 10,413 g/t Silver over 0.3 Metres at Castle East

Wedge hole CS-26-140W1 returned three separate silver-cobalt inte... READ MORE

September 9, 2026

McFarlane Lake Mining Closes $17.25 Million Bought Deal Private Placement

$15 Million Base Offering Upsized by $2.25 Million on Full Exerci... READ MORE

September 9, 2026

American Gold & Copper Inc. Signs Definitive $10 Million Acquisition Agreement for 1,540-Acre Rimrock Copper-Gold Project in Nevada

American Gold & Copper Inc. (OTC: AGCI) announced that it has execut... READ MORE

September 9, 2026

Pan Global Intersects 15 Meters of 3.9 g/t Gold From Surface, Cármenes Project, Spain

Providencia drillhole PVD15 intersects 15 meters grading 3.90 g/t... READ MORE

September 9, 2026

Copyright 2026 The Prospector News