The Castle Property is 15 km east of Aris Gold Corp's Juby gold deposit, 30 km due south of Alamos Gold's Young-Davidson mine, 75 km southwest of Kirkland Lake Gold's Macassa Complex, and 100 km southeast of new gold discoveries in the Timmins West area.Ĭanada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp in May 2020. The finder's fees paid in connection with the private placement are subject to Exchange approval.Īll securities issued in connection with the private placement will be subject to a four‐month and a day hold period expiring on Octoin accordance with applicable Canadian Securities Laws.Ĭanada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp. The finder's warrants are on the same terms as the financing warrants. An additional 88,704 finder warrants were issued to Marquest Asset Management Inc. GloRes Securities Inc., the lead finder for the financing, was paid $140,000 in cash and 191,646 finder's warrants. The proceeds of the QFT private placement will be used for drill testing the recently staked Bouguer gravity anomalies and existing Ni-Cu showings in Quebec. The proceeds of the FT private placement will be used for ongoing drilling of the Castle East Robinson Zone discovery, near the town of Gowganda, Ontario. Each whole warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.60 per share, for a period of two years from closing, subject to TSX Venture Exchange ("Exchange") approval. In total the Company issued 4,005,006 combined FT and QFT Units, raising a total of $2,000,000.Įach FT and QFT Unit is comprised of one flow-through common share of the Company and one half of one share purchase warrant. The Company will also issued 2,941,176 Quebec FT Units ("QFT Units") at a price of $0.51 per QFT Unit raising gross proceeds $1,500,000. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada Silver Cobalt") announces that further to the Company's news release dated Jregarding the closing of the private placement, the Company wishes to confirm that the Company issued 1,063,830 flow-through units ("FT Units") at a price of $0.47 per FT Unit raising gross proceeds of $500,000. JCoquitlam, BC, Canada Silver Cobalt Works Inc. ![]() Canada Silver Closes $2M Flow-Through Private Placement
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