Cartier Resources Inc. {TSX.V: ECR} announces the closing of a $100K private placement with long time supporter SIDEX.
Cartier placed one million shares at 10c, with a warrant at 13c valid for two years.
Comment
If there was ever a sign of the malaise in the junior mining sector, this is it!
Cartier are a very well managed, prudent company, in a highly prospective prolific gold producing area, and they can only raise $100K GROSS! ( Net will probably be CAD $94,000 after finders’ fees).
As they are in Quebec, if they put all this money into the ground, they can claim 40% back, through the generous exploration tax relief that Quebec based projects enjoy, thus giving them another CAD$35,000. This refund can then put back into the ground, and enjoy another 40% refund on that! And so on and so forth, so the $94,000 just raised should equate to around $135,600 in total exploration value to ECR.
Official news release
CARTIER CLOSES A $100,000 PRIVATE PLACEMENT WITH SIDEX
Val-d’Or, Canada, June 12th, 2015 – Cartier Resources Inc. {TSX.V: ECR} announces the closing of a private placement with SIDEX, s.e.c. for gross proceeds of CAD $100,000.
In total, Cartier issued 1 000 000 units at a price of $0.10 per Unit, with each Unit consisting of one (1) common share at a price of $0.10 per share and one (1) common share purchase warrant, each warrant entitling the holder to subscribe for one (1) common share at a price of $0.13 for a period of twenty-four (24) months following the closing date. This placement was completed under the SIDEX “2015 Field Action” financing program.
The securities issued under the private placement are subject to a four month statutory hold period.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
The common shares of Cartier Resources Inc. are listed on the TSX Venture Exchange under the symbol “ECR”.
For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: +1 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com
Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.