Cartier Silver Completes Successful Financing Round for Growth
Cartier Silver Completes Successful Financing Round
Cartier Silver Corporation (CSE:CFE) is excited to announce the successful closing of its non-brokered private placement. This financing effort raised an impressive total of C$1,200,000 by issuing 9,600,000 units at a price of C$0.125 per unit. Each unit consists of one common share and half a warrant, which can be used to purchase additional shares at C$0.20.
Understanding the Financing Details
Through this financing, Cartier Silver aims to strengthen its position in the silver market by funding exploration efforts at its Chorrillos Project located in Bolivia. The proceeds will also support the company's general working capital needs.
Use of Proceeds
The funds from this private placement are earmarked primarily for exploration activities at the Chorrillos Project. This project has become a focal point for Cartier Silver, reflecting their commitment to advancing their silver property assets.
Engaging with Finders
Cartier Silver acknowledged the contributions of finders who were instrumental in this financing round. The company has compensated these individuals with a finder’s fee equivalent to 7% of the total amount subscribed during this placement, amounting to approximately $42,000. This fee was paid through the issuance of 336,000 additional units, enhancing the overall participation in the project.
About Cartier Silver Corporation
Cartier Silver Corporation is dedicated to exploring and developing its silver properties, including the noteworthy Chorrillos Project among others in the Potosi Department of Bolivia. Additionally, the company has significant iron ore resources tied to its Gagnon Holdings in Quebec and the Big Easy gold property in Newfoundland and Labrador.
Future Developments and Project Vision
As Cartier Silver moves forward, the focus is on leveraging the recent financing to bring its projects to the forefront of the mining sector. The management team is optimistic about the growth potential that lies in these assets and is keen on maximizing exploration opportunities.
Commitment to Shareholders
Cartier Silver is committed to transparency and engagement with its shareholders and potential investors. By successfully executing this financing, the company aims to build a robust strategy that connects its operational goals with shareholder interests, ensuring value creation for all stakeholders involved.
Frequently Asked Questions
What was the total amount raised in the financing round?
Cartier Silver Corporation successfully raised C$1,200,000 through the issuance of 9,600,000 units at C$0.125 each.
How will the funds be utilized?
The funds will primarily finance exploration at the Chorrillos Project and support working capital needs within the company.
What is included in each unit issued?
Each unit consists of one common share and half of a share purchase warrant, allowing for future purchase of an additional common share.
Who can be contacted for more information?
For more details, interested parties can reach out to Thomas G. Larsen, CEO, or Jorge Estepa, Vice-President, at their respective contact numbers.
What does the future hold for Cartier Silver Corporation?
The company is focused on maximizing its exploration efforts and enhancing its project viability, with expectations of significant growth in the silver market.
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