pcNewsWire – Cartier Resources Inc. (TSX-V: ECR) has entered into an agreement with Canaccord Genuity Corp., as lead agent, and Paradigm Capital Inc. for a bought deal private placement of 22,250,000 common shares at a price of $0.27 per share for gross proceeds of $6,007,500.
Cartier Resources Announces $6.0 Million Bought Deal Private Placement
VAL-D’OR, QUEBEC–(Marketwired – May 8, 2017) –
NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES
Cartier Resources Inc. (“Cartier” or the “Company”) (TSX VENTURE:ECR) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. (the “Lead Underwriter”), and including Paradigm Capital Inc. (together with the Lead Underwriter, the “Underwriters”), in connection with a bought deal private placement of common shares of the Company pursuant to which the Underwriters will purchase 22,250,000 common shares of the Company (the “Offering Shares”) at a price of $0.27 per Offering Share to raise aggregate gross proceeds of $6,007,500 (the “Offering”).
The net proceeds raised through the Offering will be used to fund further exploration on the Company’s Chimo Mine, Wilson, Benoist and Fenton properties and for general working capital purposes.
Closing of the Offering is anticipated to occur on or about May 30, 2017 (the “Closing Date”). Closing of the Offering is subject to receipt of regulatory approvals, including the acceptance of the Offering by the TSX Venture Exchange. The Offering Shares will be subject to a four month hold period under applicable securities laws in Canada.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.
About Cartier Resources Inc.
Cartier Resources Inc. holds an attractive portfolio of advanced stage gold exploration assets located within the Abitibi Greenstone Belt in Val-d’Or, Québec – one of the most prolific mining regions in the world. On April 6, 2017, the Company’s Board of Directors approved a 50,000-meter drill program to be conducted over the next fifteen months. Purpose of the drill program is to explore the depth and lateral extensions of known high grade gold mineralization contained within four of Cartier’s prospective projects, namely Chimo Mine, Wilson, Benoist and Fenton, with the objective of advancing these assets toward new resource estimates.
Additional information regarding Cartier Resources Inc. is available on SEDAR at www.sedar.com under the Company’s profile and at its website at www.resourcescartier.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way approved nor disapproved the contents of this press release.
Philippe Cloutier, P. Geo.
President and CEO