- Cartier Resources (ECR) has announced a private placement with Agnico Eagle Mines Limited
- Cartier will issue 14,000,000 units at $0.13 per unit
- Each unit consists of one common share and a half common share purchase warrant
- Each whole warrant entitles Agnico to acquire one common share at a price of $0.16 for a period of thirty-six months
- The proceeds will be used for exploration at Cartier’s Chimo Mine project in Quebec
- Cartier Resources Inc. is an exploration company based in Val-d’Or, Quebec
- Cartier Resources Inc. is up 4.348 per cent, trading at $0.12 at 1:40 PM ET
Cartier Resources (ECR) has announced a private placement with Agnico Eagle Mines Limited.
Cartier will issue 14,000,000 units at $0.13 per unit.
Each unit consists of one common share and a half common share purchase warrant. Each whole warrant entitles Agnico to subscribe for one common share at a price of $0.16 for a period of thirty-six months.
Following the private placement, Agnico Eagle will own approximately 17.7 per cent of the issued and outstanding common shares of Cartier.
The proceeds will be used for exploration at Cartier’s Chimo Mine project in Quebec.
The securities issued will be subject to a four-month statutory hold period.
The private placement is expected to close by May 20, 2022, and is subject to all necessary regulatory approvals.
“We are very proud to have Agnico Eagle’s continued support as we continue to expand and advance the Chimo Mine project,” said Philippe Cloutier, CEO of Cartier.
“This will allow us to pursue our goal of outlining an economic gold deposit close to the Val-d’Or Mining Camp infrastructure,” he added.
Founded in 2006, Cartier Resources Inc. is an exploration company based in Val-d’Or.
Cartier Resources Inc. is up 4.348 per cent, trading at $0.12 at 1:40 PM ET.