Golden Cariboo Raises $1.3 Million Under First Tranche Of Financing

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

Golden Cariboo Resources (CSE: GCC) has successfully closed the first tranche of its ongoing private placement. The placement, announced in January, aims to raise gross proceeds of $2.0 million for the company.

The first tranche of the placement has seen the company successfully raise $1.3 million to date, resulting in the issuance of 13.16 million units at a price of $0.10 per unit. Each unit contains one common share, and one half of a common share purchase warrant. Each warrant contains an exercise price at $0.12, which is set to increase by $0.02 per share until hitting $0.20 per share in year five.

Shares issued under the financing are subject to a four month hold.

Proceeds from the financing are expected to be used for property exploration and general working capital.

Golden Cariboo Resources last traded at $0.21 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

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

A Monster Deposit: Every Hole Hit Gold Mineralization | Golden Cariboo Resources with Frank Callaghan

In this interview at the Commodities Global Expo 2024, Frank Callaghan, CEO of Golden Cariboo...
Tuesday, October 29, 2024, 04:01:00 PM

Golden Cariboo Closes Out $2.0 Million Financing

Golden Cariboo (CSE: GCC) has closed out its financing, raising gross proceeds of $2.0 million...
Friday, March 22, 2024, 09:39:02 AM

Golden Cariboo Hits 452 Metres Of 0.30 g/t Gold

Golden Cariboo Resources (CSE: GCC) has again intersected long widths of gold mineralization at its...
Monday, December 9, 2024, 09:53:05 AM

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 Begins 5,000 Metre Drill Program At Quesnelle Gold Quartz Mine

Drilling is set to begin at the Quesnelle Gold Quartz Mine property, operated by Golden...
Tuesday, May 9, 2023, 09:24:46 AM