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

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Euro Sun: Rovina Copper-Gold Project Secures Some Major Funding

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

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

Related News

Xander Resources Acquires Permits For Fenelon Property

Xander Resources (TSXV: XND) has secured the required permitting for its 100% owned Blue Ribbon...

Thursday, August 27, 2020, 03:13:00 PM

Northern Vertex Intersects 9.15 Metres Of 4.90 G/T Gold, 57.18 G/T Silver At Moss Mine

Northern Vertex Mining (TSXV: NEE) this morning released results from its infill and expansion drill...

Tuesday, May 18, 2021, 07:40:18 AM

West Red Lake Gold Hits 77.87 g/t Gold Over 1.9 Metres At Rowan Mine

West Red Lake Gold Mines (CSE: RLG) yesterday had a midday news release. The news...

Friday, October 15, 2021, 07:33:03 AM

Canada’s Trade Deficit Tightened in November Following Surge in Gold Shipments

As the demand for precious metals continues to accelerate amid the pandemic, Canada was able...

Thursday, January 7, 2021, 02:51:00 PM

Talisker Resources Moves To TSX Board October 14

Talisker Resources (CSE: TSK) this morning announced that it has received final approval to uplist...

Friday, October 9, 2020, 08:19:10 AM