02:19:51 EDT Thu 23 Sep 2021
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Cassiar Gold Corp
Symbol GLDC
Shares Issued 54,346,435
Close 2021-07-27 C$ 0.445
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Cassiar Gold arranges $3-million private placement

2021-07-27 09:51 ET - News Release

Mr. Marco Roque reports

CASSIAR GOLD ANNOUNCES $3 MILLION NON-BROKERED PRIVATE PLACEMENT OF FLOW-THROUGH UNITS LED BY CRESCAT CAPITAL

Cassiar Gold Corp. has arranged a non-brokered private placement of flow-through units and premium flow-through units for gross proceeds of up to $3-million. Proceeds of the offering will be used to advance the continuing exploration and drilling programs at the company's flagship Cassiar gold project in Northern British Columbia.

The company will issue up to five million units at a price of 60 cents per unit. Each FT unit will consist of one common share issued on a Canadian exploration expense flow-through basis, pursuant to the Income Tax Act (Canada), and one flow-through warrant. Each FT warrant will be exercisable by the holder thereof to acquire one CEE share at a price of 67.5 cents for a period of 24 months following the closing date of the offering.

Each premium FT unit will consist of one CEE share and one warrant. Each warrant will be exercisable by the holder thereof to acquire one common share in the capital of the company at a price of 67.5 cents for a period of 24 months following the closing date of the offering.

"Cassiar Gold holds a commanding large land position covering most of the Cassiar high-grade orogenic goldfield in Northern British Columbia," commented Quinton Hennigh, technical adviser to Crescat Capital. "High-grade-gold mineralization occurs in steeply dipping tension structures in between stacked flat shear zones underlying the region. Exploring such targets requires expertise in structural geology, and the company has one of the best such geologists, David Rhys, on their team, along with several other heavyweight explorers. We like putting money behind smart people, and at Cassiar, one has a strong team focused on an exceptional high-grade goldfield."

"We are very pleased to welcome Crescat Capital as a long-term strategic investor," said Marco Roque, chief executive officer of Cassiar Gold. "The proceeds from this financing will allow us the flexibility to increase our work program this year as well as to continue to build the breadth and depth of high-quality institutional investors in our shareholder base."

The closing of the offering is expected to occur on or before Aug. 12, 2021, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

The securities issued pursuant to the offering will be subject to a four-month hold period under applicable securities laws. In connection with the offering, certain finders may receive a cash fee and/or non-transferable finders' warrants.

About Cassiar Gold Corp.

Cassiar Gold is a Canadian gold exploration company focused on projects in British Columbia and led by a team of highly experienced financial and technical executives. The company's key asset, the Cassiar gold project, is a large, highly prospective, road-accessible gold property that encompasses the entire Cassiar gold-mining district. The company has a National Instrument 43-101-compliant inferred resource estimate of one million ounces at 1.43 grams per tonne gold at the Taurus bulk-tonnage gold deposit and has high potential for further discovery and expansion of bonanza-grade orogenic gold veins in the past-producing Cassiar South area. Historical underground mining in the Cassiar South area yielded over 300,000 ounces of gold at grades between 10 g/t and 25 g/t Au, underscoring the high-grade potential of the district. The property hosts numerous gold showings, historical workings and exploration prospects over a greater-than-15-kilometre-long and up-to-10-kilometre-wide trend. It also has a fully permitted, 300-tonne-per-day mill and tailings facility, which could provide the potential for near-term production if new and expanded high-grade resources are defined in the areas of active mining leases that cover some of the most prospective parts of the Cassiar South area. Cassiar Gold acknowledges, respects and supports the rights of traditional first nations in the lands and communities where it operates.

We seek Safe Harbor.

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