Transactions

Peterson McVicar Acts for Red Cloud in Cassiar Gold Upsizing of Bought Deal Public Offering to C$10.0 Million

On March 3, 2022 Cassiar Gold Corp. (“Cassiar Gold” or the “Company”) announced that it had agreed to amend its agreement with Red Cloud Securities Inc. and Raymond James Ltd. (the “Co-Lead Underwriters”) as co-lead underwriters and joint bookrunners on behalf of a syndicate of underwriters (collectively, the “Underwriters”), to increase the size of the Company’s previously announced offering from C$6.0 million to C$10.0 million. Under the revised offering, the Underwriters have agreed to purchase 6,666,667 flow-through units of the Company (each, a “FT Unit”) to be resold to charitable purchasers at a price of C$1.50 per FT Unit (the “Offering Price”) on a “bought deal” basis by way of a short form prospectus for gross proceeds of C$10,000,001 (the “Offering”).

 

The Company has granted to the Underwriters an option, exercisable for a period of 30 days after and including the closing date of the Offering, to purchase up to an additional 1,000,000 FT Units for resale to charitable purchasers at the Offering Price to raise additional gross proceeds of up to C$1,500,000 to cover over-allotments, if any, and for market stabilization purposes.

 

Proceeds from the sale of FT Shares will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act and “flow through mining expenditures” as defined in subsection 127(9) of the Income Tax Act. 

 

Cassiar Gold Corp. is a Canadian gold exploration company holding a 100% interest in its flagship Cassiar Gold Property located in British Columbia, Canada.

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