Peterson McVicar Acts for Red Cloud in CAD$5.3 Million Canagold Resources Oversubscribed Flow-Through Financing
On October 28, 2021 Canagold Resources Ltd. (“Canagold”) announced that it had closed an oversubscribed brokered private placement (the “Offering”) with Red Cloud Securities Inc., acting as sole agent and bookrunner, for gross proceeds of CAD$5.3 million.
The Offering was previously announced by Canagold in a press release dated September 24, 2021 for gross proceeds of CAD$5 million. Pursuant to the Offering, Canagold issued 10.6 million “flow-through shares”, within the meaning of the Income Tax Act (Canada) (each, a “FT Share”), at a price of CAD$0.50 per FT Share.
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