Cartier Silver Secures $1.5 Million for Expansion Initiatives
Cartier Silver Moves Forward with $1.5 Million Placement
Cartier Silver Corporation (CSE:CFE) has made headlines with its recent announcement of a brokered private placement aimed at raising up to $1.5 million. This funding effort is led by Centurion One Capital Corp., acting as the lead agent in this investment opportunity.
Details of the Offering
The company will offer up to 12 million units, priced at $0.125 per unit. Each unit consists of one common share and half a share purchase warrant, enabling holders to acquire additional shares at a price of $0.20 within 36 months. The funding plan showcases a structured fee arrangement where the lead agent will receive 8% of the proceeds as a cash commission, as well as warrants corresponding to 8% of the units issued.
Intended Use of Proceeds
Proceeds from this offering will primarily support drilling activities at the Los Chorrillos Project in Bolivia, alongside providing general working capital to boost operational efficiency. This strategic allocation emphasizes the company's commitment to growth and development within its key market sectors.
Private Placement Guidelines
The units are set for private placement sales in various provinces and territories across Canada and in select international jurisdictions, ensuring compliance with applicable U.S. securities regulations. This approach is designed to structure offerings without the need for extensive prospectus filings in other jurisdictions.
Closing and Regulatory Approvals
While the exact closing date is still pending, the offering is expected to finalize around a specified date, barring any unforeseen complications. The issuance of securities will follow a hold period of four months plus one day, aligning with Canadian securities regulations and ensuring a responsible rollout of these shares to investors.
Involvement of Insiders
Interestingly, insiders within the company may participate in this funding round, potentially acquiring up to 50% of the total offering. This engagement can be categorized as a related party transaction under local regulations, which allows for exemptions from formal valuation requirements due to the investment amounts being below 25% of the company's market capitalization.
The Company’s Vision
Cartier Silver is dedicated to expanding its footprint in the mining sector, focusing on silver exploration and development. Their Chorrillos Project marks a significant addition to their portfolio, with backing from proven resources like iron ore in the Gagnon Holdings and gold properties in Newfoundland and Labrador.
Contact and Additional Information
For more details about this placement and further inquiries, you can reach out to:
Cartier Silver Corporation
Thomas Larsen, Chief Executive Officer
(416) 360-8006
Email: tlarsen@cartiersilvercorp.com
Frequently Asked Questions
What is the purpose of the $1.5 million offering?
The funds will primarily support drilling at the Los Chorrillos Project and general working capital needs.
Who is leading the private placement?
Centurion One Capital Corp. is the lead agent overseeing the private placement.
How many units will be offered?
Cartier Silver will offer up to 12 million units at a price of $0.125 each.
What happens to the securities after the offering?
Securities will have a hold period of four months and one day following the closing date.
Can insiders participate in the offering?
Yes, insiders may participate and could potentially acquire up to 50% of the total offering.
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