CARTIER RESOURCES CLOSES OFFERING WITH PARADIGM CAPITAL AND CONCURRENT OFFERING FOR AGGREGATE GROSS PROCEEDS OF $11,398,596
Summary
The expiry of both the Premium FT Warrants and the Hard Dollar Warrants may be accelerated by the Corporation if the daily volume-weighted average trading price of the Common Shares on the TSX Venture Exchange (the TSXV) exceeds $0.18 for a period of twenty (20) consecutive trading days, at any time during the period beginning on April 23, 2028 and ending on April 23, 2030 (the Acceleration Trigger). Following an Acceleration Trigger, the Corporation may give notice in writing (the Acceleration Notice) to the holders of the Premium FT Warrants and the Hard Dollar Warrants that such warrants will expire thirty (30) days following the date on which the Acceleration Notice is given.In addition, in connection with Agnico Eagle Mines Limiteds (Agnico Eagle) right to participate in certain equity offerings by the Corporation under an amended and restated investor rights agreement dated March 20, 2025, Agnico Eagle participated in a concurrent non-brokered private placement pursuant to which it purchased 23,103,226 units of the Corporation (the Units) at $0.13 per Unit for additional gross proceeds $3,003,419.38 (the Concurrent Offering). The gross proceeds from the Concurrent Offering will be used for exploration purposes, including a 100,000-metre diamond drill program on the Cadillac project, as well as for general and working capital purposes.The Concurrent Offering constitutes a related party transaction as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (MI 61-101), due to the fact Agnico Eagle had, prior to the Concurrent Offering, beneficial ownership of, or control or direction over, securities of the Corporation carrying more than 10% of the voting rights attached to all the outstanding voting securities of the Corporation. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.