Financing ·
Canagold Resources Ltd. closed a $7.1 million private placement offering consisting of 5,319,149 common shares at…
CRCUFCanagold Resources Ltd.
Canagold Resources Ltd. closed a $7.1 million private placement offering consisting of 5,319,149 common shares at $0.47 per share and 8,846,154 flow-through shares at $0.52 per share. Proceeds will fund working capital, administrative expenses, and Canadian exploration expenditures at the New Polaris project in British Columbia. Sun Valley Investments AG purchased a significant portion of the offering, increasing its beneficial ownership from 48.25% to 49.75%. The transaction is classified as a related party transaction under Multilateral Instrument 61-101. Canagold Resources Ltd. operates in the mining industry, focusing on advancing the New Polaris Gold-Antimony Project through permitting and toward production.