Golden Cariboo Closes Out $2.0 Million Financing

FULL DISCLOSURE: The Deep Dive is long the equity of Golden Cariboo Resources

Golden Cariboo (CSE: GCC) has closed out its financing, raising gross proceeds of $2.0 million following the closing of the second tranche of the offering. The placement, which was originally announced in January, met its target of raising $2.0 million.

The financing saw a total of 20.0 million units of the company issued at a price of $0.10 per unit. Each unit contains one common share and one half of a common share purchase warrant. Warrants are valid for a period of five years from the date of issuance, and contain an exercise price that starts at $0.12, and increases by $0.02 every year until hitting $0.20 in year five.

Included in the financing is the purchase of 350,000 units by an insider of the company.

Proceeds from the financing are slated to be used for general working capital and property exploration. Golden Cariboo is currently focused on its Quesnelle Gold Quartz Mine project, which contains the Quesnelle Quartz gold-silver deposit. The deposit, originally discovered in 1865, has seen historical production of 2,048 tonnes that graded 3.14 g/t gold and 4.18 g/t silver.

The property, surrounded by Osisko Development on three sides, is 75 kilometres away from Osisko’s Cariboo Gold project. A phase two 2,500 to 5,000 metre drill program is slated to begin this spring on the project, along with trenching and detailed mapping.

Golden Cariboo Resources last traded at $0.22 on the CSE.


FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of Golden Cariboo Resources. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Steadright To Conduct Multi-Phased Exploration At Historic Goundafa Polymetallic Mine

Goliath Resources Drills 10.72 g/t Gold Over 7.83 Metres At Surebet

Related News

Golden Cariboo Reports 0.87 g/t Gold Over 32.0 Metres After Further Compiling Data

Golden Cariboo Resources (CSE: GCC) has provided updated assay results for a previously released drill...
Tuesday, May 7, 2024, 08:32:09 AM

Golden Cariboo Discovers New Zone At Quesnelle Gold Quartz Mine Property Following Trenching Program

A new discovery has been made by Golden Cariboo Resources (TSXV: GCC) as a result...
Thursday, May 18, 2023, 09:54:22 AM

Golden Cariboo Enhances Focus On Establishing Geological Model At Quesnelle Gold Property

FULL DISCLOSURE: This is sponsored content for Golden Cariboo Resources. Golden Cariboo Resources (CSE: GCC)...

Wednesday, July 3, 2024, 08:57:34 AM

Golden Cariboo Hits 0.99 g/t Gold Over 237 Metres At Halo Zone

Golden Cariboo Resources (CSE: GCC) has hit a major intersection of gold mineralization at its...
Tuesday, February 25, 2025, 09:24:57 AM

Golden Cariboo Sees Drill Program Get Underway At Quesnelle Gold Quartz Mine Project

Drilling has officially begun at Golden Cariboo Resources' (CSE: GCC) Quesnelle Gold Quartz Mine Project...
Tuesday, April 16, 2024, 10:07:26 AM