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Canadian Gold Corp. (TSXV: CGC) announced the closing of the first tranche of its private placement offering, issuing 1,968,750 flow-through shares at $0.16 each, raising $315,000. The company paid $15,900 in finder's fees and insiders subscribed for 312,500 shares. The funds will support Canadian exploration projects, qualifying as Canadian Exploration Expenditures. At the recent annual and special meeting, shareholders approved all items, including the election of Michael Swistun, CFA, President and CEO, to the board of directors.
Canadian Gold Corp. (TSXV: CGC) announces the start of its Phase 3 exploration program at the Tartan Mine, near Flin Flon, Manitoba, in early July 2024. The focus will be on three key target areas: Hanging Wall Zone (HWZ), Main Zone (MZ) at depth, and South Zone (SZ). The HWZ, situated 10 meters from the MZ, has shown promising results with high gold grades. The MZ has expanded its mineralization by 72% vertically below the 2017 estimate, with significant gold intercepts. The SZ aims to enhance resource size and reduce production costs through extended drilling. These efforts could greatly impact the resource size and project economics of the Tartan Mine.
Canadian Gold Corp. (TSXV: CGC) has announced a non-brokered private placement offering aimed at raising up to $1,500,000. The financing will involve issuing flow-through common shares at $0.16 per share and non-flow-through common shares at $0.14 per share. The funds raised will primarily support exploration activities at the Tartan Lake Project in Flin Flon, Manitoba, and provide working capital.
The offering is subject to approval from the TSX Venture Exchange and other relevant regulators. Flow-through shares will qualify under the Income Tax Act (Canada) and will be offered to qualified purchasers across Canadian provinces under securities legislation exemptions. Securities issued will be subject to a four-month hold period, and eligible finders may receive a 6% finder's fee on the gross proceeds.
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