Cartier Silver Closes Significant Financing
Cartier Silver Corporation (CSE:CFE) has successfully completed a major financing initiative worth $1.2 million. This non-brokered private placement involved the issuance of 9,600,000 units at a price of C$0.125 each, underlining the Company's commitment to advancing its developmental objectives.
Understanding the Financing Details
The private placement consisted of units, each made up of one common share and a warrant that permits the purchase of an additional share at C$0.20 over the following 36 months. The net proceeds are earmarked for exploration at the Company’s Chorrillos Project in Bolivia, along with general working capital.
Use of Funds
Funds raised through this financing will be pivotal in propelling the exploration efforts at the Chorrillos Project, which has shown significant promise. Additionally, these funds will aid in essential operational expenditures, ensuring the Company maintains a robust and competitive position in the market.
Finder’s Fees and Structure of the Placement
Under applicable securities laws, the Company allocated a finder's fee that totaled 7% of the amount subscribed by introducing investors. This resulted in the issuance of 336,000 units valued at C$0.125, amounting to $42,000 in fees that was integrated into the overall financing strategy.
Regulatory Considerations
As part of the financing process, all securities issued are subjected to a statutory four-month hold period, adhering to regulatory requirements. This is an important step in ensuring compliance with securities regulations.
Profile of Cartier Silver Corporation
Cartier Silver Corporation is committed to exploring and developing silver properties in Bolivia, notably the Chorrillos Project, evidence of the Company’s strategic focus on high-potential mineral assets. The Company is also involved with substantial iron ore resources in Quebec and a gold property in Newfoundland, diversifying its investment portfolio.
Future Projections and Growth Plans
Looking ahead, Cartier Silver aims to leverage this financing to enhance its exploration capabilities. With a dedicated team and strategic assets, the Company is positioned well to discover valuable resources and increase shareholder value.
Additional Company Contacts
For those seeking further information about Cartier Silver Corporation, inquiries can be directed to:
Thomas G. Larsen
Chief Executive Officer
(800) 360-8006
(416) 360-8006
Jorge Estepa
Vice-President
(800) 360-8006
(416) 360-8006
Frequently Asked Questions
What was the total amount raised in the financing?
Cartier Silver Corporation raised a total of $1.2 million through the financing initiative.
What projects will the financing support?
The proceeds will primarily support exploration at the Chorrillos Project in Bolivia and provide working capital.
How many units were issued in the placement?
A total of 9,600,000 units were issued at a price of C$0.125 each.
What is the duration for the exercise of warrants?
The warrants allow holders to purchase additional common shares at a price of C$0.20 for a period of 36 months from the date of issuance.
Who are the primary contacts for the Company?
Contact details for inquiries include Thomas G. Larsen, Chief Executive Officer, and Jorge Estepa, Vice-President, reachable at the provided phone numbers.
