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Highlights:

  • Golden Cariboo launches two private placements for gross proceeds totaling up to $2.69 million
  • Each offering consists of common shares and share purchase warrants with tiered exercise prices
  • Proceeds to be used for drill programs and continued property exploration

Golden Cariboo Resources Ltd. (CSE: GCC | OTC: GCCFF | FSE: 3TZ) has announced the launch of two non-brokered private placement offerings, aiming to raise a total of up to $2.69 million. The first offering, under the listed issuer financing exemption (LIFE), seeks a minimum of $1,300,000 to a maximum of $1,690,000, while the second offering, the Concurrent Private Placement, aims to raise up to $1,000,000.

Both offerings are priced at $0.13 per unit for the LIFE Offering and $0.10 per unit for the Concurrent Private Placement. Each unit in both offerings consists of one common share and one half of a share purchase warrant. Two half warrants combine to form one full warrant, which will be exercisable over three years, with tiered exercise prices of $0.15 in the first year, $0.18 in the second year, and $0.22 in the third year.

The proceeds from the LIFE Offering are expected to fund a modest drill program and provide working capital for the company’s ongoing activities. The funds raised from the Concurrent Private Placement will be directed towards continued property exploration and general working capital needs.

As per the terms of the LIFE Offering, the securities issued will not be subject to a hold period under applicable Canadian securities laws. In contrast, the securities from the Concurrent Private Placement will be subject to a four-month hold period. Finder’s fees may be payable in connection with both placements, in accordance with the policies of the Canadian Securities Exchange (CSE).