- Cabral Gold (CBR) has closed the first tranche of a non-brokered private placement
- The private placement consists of a total of 6,200,000 units at a price of $0.20 per unit for gross proceeds of $1,240,000
- Cabral Gold intends to use the net proceeds from the private placement for exploration and development activities, repayment of operating liabilities, etc
- In addition, the shareholders of Cabral Gold have approved the company’s amended 10-per-cent rolling stock option plan at the annual meeting of shareholders
- Cabral Gold Inc. is a junior resource company engaged in the identification, exploration and development of mineral properties
- Cabral Gold Inc. opened trading at $0.14 per share
Cabral Gold (CBR) has closed the first tranche of a non-brokered private placement for gross proceeds of $1,240,000.
The company will issue a total of 6,200,000 units at a price of $0.20 per unit. Each unit consists of one common share and one common share purchase warrant.
Each warrant is exercisable for two years following the first closing of the offering and will entitle the holder to purchase one common share at an exercise price of $0.30 in the first year or $0.40 per common share in the second year.
Cabral Gold intends to use the net proceeds for exploration and development activities, repayment of operating liabilities and general working capital purposes.
In addition, the shareholders of Cabral Gold have approved the company’s amended 10-per-cent rolling stock option plan at the annual meeting of shareholders.
The principal amendments to the stock option plan ensure compliance with the revised Policy 4.4 of the TSX Venture Exchange.
The maximum number of common shares which may be issued under the stock option plan is 10 per cent of the company’s issued and outstanding share capital, less the aggregate number of restricted share units granted as at the date of grant.
Cabral Gold Inc. is a junior resource company engaged in the identification, exploration and development of mineral properties, with a primary focus on gold properties located in Brazil.
Cabral Gold Inc. opened trading at $0.14 per share.