Connect with us

News Releases

Cartier Resources Inc. Completes Private Placement of C$1,500,000

VAL-D’OR, Québec, Oct. 19, 2022 (GLOBE NEWSWIRE) — Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the “Company”) announces that it has completed…

Share this article:

Published

on

VAL-D’OR, Québec, Oct. 19, 2022 (GLOBE NEWSWIRE) — Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the “Company”) announces that it has completed a non-brokered private placement of aggregate gross proceeds of $1.5 million (the “Private Placement”).

Under the Private Placement, the Company issued 12,500,000 flow through common shares (the “FT 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 “Tax Act”).

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 $45,000 in cash and 500,000 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. The Company has a strong cash position exceeding $6.0 M and a significant corporate and institutional endorsement, including Agnico Eagle Mines, O3 Mining and Quebec investment funds.

For more information, contact:
Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819-856-0512
[email protected]
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

private placement
investment
tsxv-ecr
cartier-resources-inc
cartier resources inc
press-release

Share this article:

Financing News

Capella Announces Definitive Agreement for the Sale of is Central Norway Copper-Cobalt Projects to NickelX and Financing Update

Capella Announces Definitive Agreement for the Sale of is Central Norway Copper-Cobalt Projects to NickelX and Financing Update
Canada NewsWire
VANCOUVER, BC, Oct. 17, 2023

VANCOUVER, BC, Oct. 17, 2023 /CNW/ – Capella Minerals Ltd (TSXV: CMIL) (OTC…

Share this article:

Published

on

By

Continue Reading
Financing News

Goldgroup Announces Exercise of Cerro Prieto Purchase Option

Vancouver, British Columbia–(Newsfile Corp. – October 17, 2023) – Goldgroup Mining Inc. (TSX: GGA) (OTC PINK: GGAZF) (BMV SIX: GGAN.MX) ("Goldgroup" or…

Share this article:

Published

on

By

Continue Reading
Drilling News

Canada Silver Cobalt Works Confirms Pegmatites up to 20 meters wide and 70 meters long at Sangster West

 

Pegmatite Confirmations and Advanced Geochemical Insights Propel Exploration Success

Coquitlam, BC – TheNewswire – October 17, 2023 – Canada Silver…

Share this article:

Published

on

By

Continue Reading

Trending