Resources Ltd. Announces Closing of $3.22M Charity Flow Through Financing
Summary
The Company issued 9,200,000 common shares of the Company (each a FT Share) that qualify as flow-through shares for the purposes of the Income Tax Act (Canada) at a price of $0.35 per FT Share for total gross proceeds of $3,220,000 (the Offering).The gross proceeds from the issuance of FT Shares will be used to incur Canadian exploration expenses as such term is defined under subsection 66.1(6) of the Income Tax Act (Canada) and will qualify as flow-through mining expenditures as defined in subsection 127(9) of the Income Tax Act (Canada), and BC flow-through mining expenditures as defined in subsection 4.721(1) of the Income Tax Act (British Columbia) at the Companys New Polaris project.The Company received conditional approval from the Toronto Stock Exchange (the TSX) for the Offering on February 24, 2025 and is currently seeking final approval.No finders fees were paid in connection with the Offering. The FT Shares were issued on a private placement basis and are subject to a hold period of four months and one day following the closing date of the Offering, expiring on July 5, 2025.Under the Offering, Sun Valley Investments AG (Sun Valley) purchased 3,680,000 common shares. The Company has access to a team of technical experts to help unlock significant value for all Canagold shareholders.For further information, please contact:Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.This news release contains forward-looking statements within the meaning of the United States private securities litigation reform act of 1995 and forward-looking information within the meaning of applicable Canadian securities legislation. Statements contained in this news release that are not historical facts are forward-looking information that involves known and unknown risks and uncertainties. In certain cases, forward-looking statements can be identified by the use of words such as plans, has proven, expects or does not expect, is expected, potential, appears, budget, scheduled, estimates, forecasts, at least, intends, anticipates or does not anticipate, or believes, or variations of such words and phrases or state that certain actions, events or results may, could, would, should, might or will betaken, occur or be achieved.Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.