Cascadia Announces Private Placement
27 Octubre 2011 - 5:54PM
Marketwired
Cascadia Resources Inc. (TSX VENTURE:CCR) (the "Corporation")
announces a non- brokered private placement of a minimum of
4,000,000 and a maximum of 6,250,000 common shares of the
Corporation to be issued on a flow-through basis ("Flow-through
Shares") at a price of $0.12 per share for proceeds of $480,000 to
$750,000 (the "Private Placement"). Proceeds from the private
placement will be used to fund exploration and development drilling
and related activities on properties farmed into or to be acquired.
The Private Placement will be subject to approval by the TSX
Venture Exchange.
Pursuant to the policies of the TSX Venture Exchange and
Multilateral Instrument 61-101, the Private Placement is classified
as a "related party transaction" as Gordon Bowerman and James
Evaskevich, directors of the Corporation, and Trish Olynyk, the CFO
of the Corporation (collectively, the "Related Parties") intend to
subscribe for at least 1,600,000 Flow-through Shares.
The Private Placement was approved by one of the three
directors, the two Related Party directors having abstained from
the vote. The director who voted determined that exemptions from
the formal valuation and minority shareholder approval requirements
under the Multilateral Instrument 61-101, are available since the
fair market value of the consideration paid by the Related Parties
in connection with the Private Placement is for an amount less than
$2,500,000.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the Policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Cascadia Resources Inc. Gordon Bowerman President
(403) 262-9177 (403) 262-8284 (FAX)
(TSXV:CCR)
Gráfica de Acción Histórica
De Ago 2024 a Sep 2024
(TSXV:CCR)
Gráfica de Acción Histórica
De Sep 2023 a Sep 2024
Real-Time news about (TSX Venture Exchange): 0 recent articles
Más de CASCADIA RESOURCES INC. Artículos de Noticias