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

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Labrador Gold Assays 44.08 g/t Gold Over 4.28 Metres

Labrador Gold (TSXV: LAB) this morning continued to prove there is strong gold mineralization within...

Wednesday, August 18, 2021, 08:35:58 AM

Market Movers: Tudor Gold, Teuton Resources, & American Creek

The Deep Dive’s West Coast Office loves a good old fashioned BC Golden Triangle gold...

Wednesday, July 8, 2020, 11:15:00 AM

Midas Gold Sees CEO Step Down, Directors Replaced

Midas Gold (TSX: MAX) shareholders this morning are waking up to the news that the...

Friday, December 4, 2020, 08:23:25 AM

Kirkland Lake Gold Discontinues Automatic Share Purchase Program

Kirkland Lake Gold (TSX: KL) appears to be in capital preservation mode following the merger...

Wednesday, September 29, 2021, 08:34:50 AM

The Drill Core That Got Newmont & Eric Sprott Hooked | Metallic Minerals with Scott Petsel

In this interview at the Commodities Global Expo 2024, Scott Petsel, President of Metallic Minerals...

Friday, October 25, 2024, 01:05:00 PM