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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
