Stockwatch reported a range of Canadian miners conducting capital raises today (26 June), including Cassiar Gold (TSX-V:GLDC), which is currently brokering a private placement to raise up to C$5 million ($5.59 million).
Red Cloud Securities is acting as the sole agent and bookrunner for this placement.
The company will issue up to 11.1 million flow-through units at a price of $0.36 per unit for up to C$4 million, before a remaining 4 million units are issued to raise the remaining C$1 million.
Each flow-through unit comprises one flow-through share and one purchase warrant, which entitles the holder to purchase additional shares at a price of C$0.5 for 24 months following the closing date.
This capital raise will replace and terminate Cassiar’s previously announced placement, still intending for funds to cover Canadian exploration expenses at its namesake gold project, as reported by Mining.com.au.
Cassiar Gold is focused on developing its wholly owned Cassiar Gold Property, which spans 590km2 in northern British Columbia, Canada.
Meanwhile, Fireweed Metals (TSX-V:FWZ) has retained C$5.6 million in the close of the final tranche of a C$14 million non-brokered placement.
Already issuing 4.65 million shares at the same share price in May, the second tranche issued another 3.12 million shares at C$1.8 per share to privately-held Nemesia S.à r.l.
Fireweed has raised a total of C$60 million for the company’s financing between this offering and a brokered placement that closed with $46 million last month.
Fireweed is an explorer focused on developing the critical metals district in Northern Canada, where its wholly owned Macpass District land package resides.
Valkea Resources (TSX-V:OZ) has raised C$4.1 million in a private placement with mining investor Michael Gentile and Primevest Capital Corp holding 9.9% of the issued shares each.
The company issued 16.4 million units at a price of C$0.25 per share, each unit comprising one share and half of a purchase warrant, which offers holders the opportunity to purchase one share at C$0.35 until 24 December 2026.
As director of a range of junior mining companies such as Group Eleven Resources (TSX-V:ZNG) and Northern Superior Resources (TSX-V:SUP), Gentile has also joined the board as an advisor for Valkea.
Funding raised from this placement will be allocated towards advancing the Paana Project after the completion of its maiden program this year.
Valkea Resources is a gold explorer with a portfolio of projects spanning Finland’s Central Lapland Greenstone Belt.
Esgold Corp (CSE:ESAU) has also announced the close of its non-brokered placement, raising a total of C$3.65 million.
Issuing 4.99 million units at a price of C$0.73, each unit comprises one share and one purchase warrant for holders to acquire one additional share at a price of $0.91 for 18 months from the closing date.
The company is also required to pay a cash finder’s fee of $165,610 with the issue of 226,863 warrants in conjunction with this placement.
Esgold intends on using funds to construct a mill circuit and streamline the Montauban gold-silver project.
Esgold Corp is a Canadian gold and silver producer that aspires to aid the global transition towards decarbonisation and electrification.
Write to Maddison Elliott at Mining.com.au
Images: Cassiar Gold
