Cascadia Announces Closing of Financing
How did your country report this? Share your view in the comments.
Diverging Reports Breakdown
Cascadia Announces Closing of Financing
Cascadia Minerals Ltd. has oversubscribed and closed its previously announced non-brokered private placement (the “Placement”) for total proceeds of C$2,274,385. Cascadia will use the proceeds of the Placement to pay expenses associated with the Transaction and to conduct exploration on the Carmacks Project. The Placement consisted of the sale of: (a) 14,459,894 subscription receipts (“Subscription Receipts”) at a price of $0.14 per Sub subscription receipt; and (b) 1,785,714 units (“Cascadian Units”) at an average price of C $0,14 per unit. If the closing of the Transaction has not completed by August 29, 2025, the Sub subscription receipts will be cancelled and the escrowed proceeds returned to subscribers.
VANCOUVER, BC, July 3, 2025 /CNW/ – Cascadia Minerals Ltd. (“Cascadia”) (TSXV:CAM) (OTCQB:CAMNF) is pleased to announce that it has oversubscribed and closed its previously announced non-brokered private placement (the “Placement”) for total proceeds of C$2,274,385, in conjunction with Cascadia’s planned acquisition of Granite Creek Copper Ltd. (the “Transaction”), see news release dated June 9, 2025 for more details. The Placement was oversubscribed by 174,180 subscription receipts.
Cascadia Minerals Ltd. logo (CNW Group/Cascadia Minerals Ltd.)
The Placement consisted of the sale of: (a) 14,459,894 subscription receipts (“Subscription Receipts”) at a price of $0.14 per Subscription Receipt for gross proceeds of C$2,024,385; and (b) 1,785,714 units (“Cascadia Units”) at a price of C$0.14 per Cascadia Unit for gross proceeds of C$250,000. Each Subscription Receipt entitles the holder to receive at the effective time of the Transaction one unit of Cascadia consisting of one Cascadia share and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase an additional Cascadia share at a price of $0.24 per share for a period of two years following the date of issuance of the Warrant. The Cascadia Units also consist of one Cascadia share and one common share purchase warrant having the same terms as the Warrants forming part of the units underlying the Subscription Receipts.
The proceeds from the sale of the Subscription Receipts will be held in escrow pending the closing of the Transaction. If the closing of the Transaction has not completed by August 29, 2025, the Subscription Receipts will be cancelled and the escrowed proceeds returned to the subscribers. Cascadia will use the proceeds of the Placement to pay expenses associated with the Transaction and to conduct exploration on the Carmacks Project.
Cascadia will pay cash finders’ fees totalling $90,623 and issue a total of 647,308 finder warrants (“Finder Warrants”) in connection with the financing, with such fees to be paid and warrants to be issued at the closing of the Transaction. Each Finder Warrant shall be exercisable into one common share of Cascadia for a period of 24 months from issue, at an exercise price of $0.24 per Finder Warrant.
The Cascadia shares and warrants comprising the Cascadia Units and any Cascadia shares issuable upon the exercise of these warrants are subject to a hold period in Canada until November 4, 2025. The Subscription Receipts are also subject to a hold period in Canada which ends on November 4, 2025, but the Cascadia shares and Warrants issuable upon the conversion of the Subscription Receipts at the effective time of the Transaction and any Cascadia shares issued on the exercise of the Warrants will not be subject to a resale hold period in Canada.
Source: https://finance.yahoo.com/news/cascadia-announces-closing-financing-222300633.html