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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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