The Company issued 1,636,666 flow-through units ('FT Units') at a price of
Each FT Unit consists of one Common Share, issued on a flow-through basis pursuant the Income Tax Act (
The gross proceeds from the Private Placement will be used for Canadian Exploration Expenses, and will qualify as 'flow-through mining expenditures,' as defined in the Income Tax Act (
An insider of the Company subscribed for 33,333 FT Units under the second tranche. As such, this participation constitutes a 'related party transaction' as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ('MI 61-101').
About
Contact:
Dr.
Tel: 604-493-2997
Email: jverbaas@cavumining.com
The securities being offered under the Private Placement have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within
Forward-Looking Statements
All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Canadian Securities Exchange, the
(C) 2022 Electronic News Publishing, source