pcNewsWire – Cache Exploration Inc. (TSX-V: CAY) has cancelled its non-brokered private placement announced on May 23, 2017 and will conduct a newly priced non-brokered private placement of up to 5,000,000 units at $0.22 per unit and up to 3,000,000 flow-through units at $0.28 per FT unit for aggregate gross proceeds of up to $1,940,000.
News Release
Cache Exploration Announces Non-Brokered Private Placement
June 29, 2017, Vancouver, British Columbia: Cache Exploration Inc. (the “Company”, or “Cache”), (TSX-V:CAY) announces that it has cancelled its non-brokered private placement announced on May 23, 2017 and will conduct a newly priced non-brokered private placement of up to 5,000,000 units at $0.22 per unit (the “Unit”). Each Unit will consist of one common share (a “Unit Share”) and one half common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one half additional common share (a “Warrant Share”) at an exercise price of $0.32 per Warrant Share. The Warrant Share is exercisable for the first two years from the date of issue of the Warrant.
The Company shall also offer up to 3,000,000 flow-through shares at $0.28 per share with a half warrant at $0.36, exercisable for two years from closing.
All of the securities to be issued are subject to a four month plus one day statutory hold period and are subject to receipt of approval of regulatory authorities, including the TSX Venture Exchange.
The securities being offered will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold within the United States absent registration or an exemption from the registraiton requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
About Cache Exploration
Cache Exploration is focused on its Kiyuk Lake Property in Nunavut.
Kiyuk Lake Property Highlights
A true district play covering a majority proportion of the Proterozoic Kiyuk Basin
12,000 meter drill database: 2008-2013
Gold Showings over a 15 Km Strike Length
Multiple Gold Intercepts over 3g/t
Four Discrete Mineralized Zones (Rusty, Gold Point, Cobalt, Amundsen)
Significant expansion possible with five new target areas identified and ready for drilling
Sites are drill ready with fuel, drills and 35-man camp on site and ready for spring drilling
For more information about Cache Exploration, please visit: www.cacheexploration.com
“Jack Bal”
Jack Bal
Chief Executive Officer
FOR MORE INFORMATION, PLEASE CONTACT:
Jack Bal
604-306-5285
jackbal@cacheexploration.com
