Golden Cariboo closes $438,652 tranche two of placement
2025-03-11 17:21 ET – News Release
Mr. J. Frank Callaghan reports
GOLDEN CARIBOO CLOSES PRIVATE PLACEMENT TRANCHE TWO
Golden Cariboo Resources Ltd. has closed the second tranche of a non-brokered private placement first announced Jan. 3, 2025. Golden Cariboo has raised $438,652.50 from the issue of 3,374,250 units at 13 cents per unit for the second tranche. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each whole warrant is exercisable for a period of three years from the closing at exercise prices as follows: 18 cents in year one, 22 cents in year two and 25 cents in year three. The company has received a 30-day extension to close the private placement from the Canadian Securities Exchange to complete the placement.
The proceeds of the offering will be used for property exploration and for general working capital. All securities to be issued are subject to a statutory four-month-and-one-day hold period. Finders’ fees of $5,356 and 214,800 finder warrants will be paid in connection with the second tranche, all in accordance with the policies of the CSE.
About Golden Cariboo Resources Ltd.
Golden Cariboo is rediscovering the Cariboo gold rush by proceeding with high-grade targeted drilling and trenching programs on its Quesnelle gold quartz mine project bordered by Osisko Development. Historically, over 101 placer gold creeks on the 90-kilometre trend from the Cariboo Hudson mine north to the Quesnelle gold quartz mine have recorded production, and successful placer mining continues to this day.
Golden Cariboo’s Quesnelle gold quartz mine property is four kilometres northeast of, and road accessible from, Hixon in central British Columbia. The property includes the Quesnelle quartz gold-silver deposit, which was discovered in 1865 in conjunction with placer mining activities. Hixon Creek, which dissects the Quesnelle gold quartz mine property, is a placer creek which has seen small-scale placer production since the mid-1860s.
The information on the adjacent properties is not necessarily indicative of the mineralization on the Quesnelle gold quartz mine project.
We seek Safe Harbor.
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