Unlocking Clarity: How AI Legalese Decoder Simplifies Canadian Gold Corp.’s Final Tranche Financing
- December 24, 2024
- Posted by: legaleseblogger
- Category: Related News
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Canadian Gold Corp. Successfully Completes Final Tranche of Private Placement Offering
Toronto, Ontario – (Newsfile Corp. – December 24, 2024)
Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce the successful completion of the final tranche closing of its private placement offering. This latest round has resulted in an aggregate oversubscribed total of $775,089, demonstrating robust interest from investors and affirming the Company’s strategic direction.
Details of the Private Placement Offering
On December 13, 2024, the Company made headlines with the announcement of a first tranche closing, securing $500,000 through the issuance of 2,631,579 flow-through shares at a price of $0.19 per share. The momentum continued as the second tranche was closed, with the issuance of an additional 1,447,837 flow-through shares, also priced at $0.19 per share, contributing another $275,089 to the filled coffers of the Company.
In total, 4,079,416 shares have been issued throughout these offerings, generating substantial gross proceeds of $775,089. As part of this process, the Company also incurred a total of $27,005.33 in finders’ fees paid to eligible finders, underscoring the collaborative effort in bringing this funding to fruition. Importantly, all securities issued will be subject to a hold period of four months, reflecting compliance with securities regulations.
Allocation of Proceeds
The funds raised through this issuance of flow-through shares will be allocated to the Company’s Canadian exploration initiatives. These expenditures qualify as Canadian Exploration Expenditures (CEE), further positioning Canadian Gold Corp. for growth and development in the exploration sector.
Contact for Further Information
For those seeking additional information or wishing to explore investment opportunities with Canadian Gold Corp., please reach out to:
Michael Swistun, CFA
President & CEO
Canadian Gold Corp.
Phone: (204) 232-1373
Email: [email protected]
About Canadian Gold Corp.
Canadian Gold Corp. operates out of Toronto, focusing on the exploration and development of mineral resources. Its primary goal is to expand the high-grade gold resource at the historically active Tartan Mine located in Flin Flon, Manitoba. The Tartan Mine boasts a 2017 indicated mineral resource estimate of 240,000 oz of gold at an impressive 6.32 g/t, with an additional 37,000 oz of inferred gold at 4.89 g/t.
Additionally, Canadian Gold holds a complete 100% interest in several greenfields exploration properties situated in Ontario and Quebec, strategically located near major gold mines and development projects, including the Canadian Malartic Mine in Quebec and the Hemlo Mine in Ontario. Notably, the Company is 34% owned by Robert McEwen, a prominent figure in the mining industry who founded Goldcorp and serves as Chairman and CEO of McEwen Mining.
Caution Regarding Forward-Looking Information
It is essential to recognize that this news release contains statements that could be categorized as "forward-looking statements." These statements entail known and unknown risks, uncertainties, and other factors that may result in Canadian Gold’s actual results, performance, or achievements significantly diverging from those anticipated. Stakeholders should exercise caution and conduct thorough investigations before making any decisions based on these projections.
How AI legalese decoder Can Help
In the dynamic landscape of corporate finance, the legal complexity surrounding private placements and investment offerings can be daunting. This is where AI legalese decoder can prove invaluable. By using advanced algorithms, the AI legalese decoder simplifies intricate legal jargon into plain language, making it more digestible for stakeholders, investors, and the general public alike. Whether you need to understand the implications of forward-looking statements or the specifics of share offerings, this AI tool empowers you to make informed decisions without being bogged down by confusing legal terminology.
For more insight into this press release and other details, please visit Newsfile.
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