CBLT (CBBLF) plans a non-brokered private placement of Units for gross proceeds of $50,000, with pricing and terms announced for the financing.
Each Unit will be priced at $0.05 and will consist of one common share and one common share purchase warrant exercisable at $0.06 for 24 months. Proceeds are earmarked for working capital, and closing remains subject to regulatory approval. Management will participate, and the company is relying on exemptions from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 because the fair market value of management participation is represented as less than 25% of CBLT’s current market capitalization.
CBLT (TSXV: CBLT, OTC: CBBLF) announced a minor diversification into supporting a third-party investor education and marketing Program focused on mining, while keeping mineral exploration as its main business. CBLT will act as agent with exclusive management of the Program’s cash account and will be compensated for this role.
To support working capital, CBLT intends to complete a non-brokered financing of $50,000 in Units at $0.05 per Unit, each comprising one common share and one full $0.06 warrant with a 24‑month term, subject to regulatory approval. Existing shareholders as of August 7, 2026 may purchase up to $15,000 of Units under prospectus exemptions.
CBLT Inc. (TSXV: CBLT) has initiated Phase 2 of its work program at the Falcon Gold Property in Sudbury, Ontario, following a successful Phase 1. The property, which includes the past-producing Falcon Gold Mine, is located on 100% owned patented mining claims. Phase 2 involves a mechanized stripping program to follow up on previously reported grab samples with gold values up to 25.7 g/t.
The program aims to better understand the geological controls at the property. Phase 1 assay results, announced in July 2024, showed gold values ranging from 0.005 g/t to 25.7 g/t. Phase 2 will focus on locating and stripping historical features such as trenches and the dump for further sampling and mapping.Historically, gold mineralization was discovered at the site in 1890, with various exploration phases conducted over the years. A 1988 drill program by Falconbridge calculated historical resources of 59,400 tons grading 0.226 oz/ton.
CBLT Inc. (TSXV: CBLT) has reported successful results from its Phase 1 reconnaissance prospecting program at the past-producing Falcon Gold Property in Sudbury, Ontario. The program confirmed high-grade gold mineralization, with grab samples yielding up to 25.7 g/t Au. The property, recently purchased from Kinross Gold Corp., has a history of gold discovery dating back to 1890.
Key findings include:
- 23 grab samples collected, with 7 samples returning grades over 2 g/t Au
- Gold mineralization associated with a pyrite-rich shear zone
- Historical resource estimate of 59,400 tons grading 0.226 oz/ton (not NI 43-101 compliant)
CBLT plans further work, including additional sampling and mapping, ahead of a mechanized stripping program to better understand the geological controls at Falcon Gold.
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