Canadian Goldcamps arranges $2M private placement

Executive Summary

• Canadian Goldcamps Corp. announced a non-brokered private placement of up to 13,333,333 units at $0.15 per unit, raising gross proceeds of up to $2 million.
• Each unit consists of one common share and one-half of one common share purchase warrant, with warrants exercisable at $0.25 per share for 24 months.
• Proceeds are designated for advancing exploration activities on mineral projects under option, including geological work and target development, with a portion allocated to general and administrative expenses.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Offered: Up to 13,333,333 units.
• Price: $0.15 per unit.
• Gross Proceeds: Up to $2,000,000.
• Warrant Terms: Each unit includes one-half of one common share purchase warrant.
• Warrant Exercise Price: $0.25 per share.
• Warrant Expiry: 24 months from the date of issuance.
• Acceleration Clause: The company may accelerate the warrant expiry date if the common share closing price on the Canadian Securities Exchange is equal to or greater than $0.75 for five consecutive trading days. If accelerated, notice must be given, and warrants expire 30 days from the notice date.
• Use of Proceeds: Advancing exploration activities on mineral projects under option (geological work, target development, related exploration programs), general and administrative expenses, and working capital.
• Closing Conditions: Subject to conditions including receipt of necessary approvals, specifically the Canadian Securities Exchange.
• Finders' Fees: The company may pay finders' fees and/or issue finders' warrants in accordance with applicable securities laws and CSE policies.
• Statutory Hold: All securities are subject to a statutory hold period of four months and one day from the date of issuance.

Notable Quotes

• None provided in the text.