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The latest update is out from Golden Cariboo Resources ( (TSE:GCC) ).
Golden Cariboo Resources has launched a non-brokered private placement of up to 8,750,000 units at $0.08 per unit to raise as much as $700,000 in gross proceeds. Each unit will include one common share and a five-year warrant with annually escalating exercise prices, and all securities issued will be subject to a four-month hold period, with finders’ commissions payable in line with CSE policies.
The company plans to use the funds for general working capital and continued exploration on its Quesnelle Gold Quartz Mine property in the Cariboo gold district of British Columbia. The financing underpins Golden Cariboo’s efforts to advance exploration near major regional players and in a geologically significant gold corridor, potentially strengthening its positioning in a historically productive mining camp.
More about Golden Cariboo Resources
Golden Cariboo Resources Ltd. is a Canadian mineral exploration company focused on rediscovering the historic Cariboo Gold Rush in central British Columbia. The firm is advancing highly targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine property near Hixon, which hosts sediment-hosted, orogenic-style gold mineralization comparable to deposits such as Spanish Mountain along the same geological trend.
Average Trading Volume: 380,334
Technical Sentiment Signal: Sell
Current Market Cap: C$10.28M
For detailed information about GCC stock, go to TipRanks’ Stock Analysis page.