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Canagold Resources ( (TSE:CCM) ) just unveiled an announcement.
Canagold Resources Ltd. has successfully closed a $3.22 million charity flow-through financing, issuing 9.2 million common shares to fund Canadian exploration expenses at its New Polaris project. The financing included significant participation from Sun Valley Investments AG and its affiliate, Goldlogic Corp., which collectively now hold 48.25% of Canagold’s total issued and outstanding shares. This transaction, classified as a related party transaction, underscores Canagold’s strategic efforts to bolster its exploration activities and maintain strong insider investment, potentially enhancing its market position and shareholder value.
More about Canagold Resources
Canagold Resources Ltd. is a growth-oriented gold exploration company focused on advancing the New Polaris Project through feasibility and permitting. The company aims to expand its asset base through future acquisitions of additional advanced projects, leveraging a team of technical experts to enhance shareholder value.
YTD Price Performance: 16.13%
Average Trading Volume: 47,571
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$62.82M
For a thorough assessment of CCM stock, go to TipRanks’ Stock Analysis page.