Canuc Resources Closes $1.0 Million Financing

Canuc Resources (TSXV: CDA) has completed its previously announced private placement. The financing saw a total of $1.0 million in gross proceeds raised for the firm, which will be used for drilling of targets that are defined by a currently ongoing magnetic survey being conducted at the firms flagship San Javier Silver-Gold project in Mexico.

Units of the company were priced at $0.25, with each unit containing one common share and one half warrant. Each warrant is valued for a period of two years from the date of issue, and are exercisable into common shares at $0.35 per share. Notably, two officers of the company partook in the financing.

An acceleration clause is also present on the warrant, with the company able to accelerate the expiry on the warrants should the common shares of the company exceed a 10 day volume weighted average price of $0.50 per share.

Canuc Resources last traded at $0.20 on the TSX Venture.


.FULL DISCLOSURE: Canuc Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Canuc Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

America Uses More Copper Than It Makes | Simon Quick – Canadian Copper

Gold Bulls Run Faster Than New Mines?! | Thomas Mumford – Scottie Resources

Is This the Start of a New Gold Rush | Russell Ashton – Juggernaut Exploration

Recommended

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Altamira Gold Encounters Porphyritic Intrusive Rocks In Initial Scout Drilling At Regional Targets

Related News

Falcon Gold Sees First Hole At Central Canada Project Completed

Falcon Gold (TSXV: FG) has completed the first drill hole in its 2020 drill program...

Tuesday, April 21, 2020, 09:00:38 AM

Orvana Increases Taguas Resource Estimate To 2.6 Million Gold Equivalent Ounces

Orvana Minerals Corp. (TSX: ORV) today announced that the company has updated the mineral resource...

Monday, July 5, 2021, 04:34:00 PM

Premier Gold To Conduct $84.0 Million Financing Under i-80 Gold Subsidiary

Premier Gold Mines (TSX: PG) this morning announced a private placement in connection with its...

Wednesday, February 24, 2021, 08:18:43 AM

Trillium Gold Acquires Final 16.5% Interest In Newman Todd Gold Property

Trillium Gold Mines (TSXV: TGM) has finally acquired the final portion of the Newman Todd...

Friday, November 13, 2020, 09:02:27 AM

New Found Gold Drills 150.28 g/t Gold Over 11.50 Metres At Lotto Zone

New Found Gold (TSXV: NFG) continues to report strong drill results from its Queensway Project...

Wednesday, June 23, 2021, 07:59:16 AM