Cascadia Minerals arranges $4.1-million financing
Executive Summary
- Cascadia Minerals Ltd. announced a non‑brokered private placement of up to C$4.1 million, comprising NFT and CFT units priced at C$0.15 and C$0.233 respectively.
- Proceeds will fully fund a 15,000‑metre diamond drilling program in 2026 targeting expansion of the Carmacks deposit and other regional targets; CFT proceeds are earmarked for flow‑through critical‑minerals exploration expenses.
- The offering includes warrants (½ warrant per unit) exercisable at C$0.20 for up to 36 months, with closing expected on or before 22 Dec 2025 and a four‑month hold period thereafter.
Key Details
- Units Offered:
- 6,666,667 non‑flow‑through (NFT) units @ C$0.15 each → ~C$1.0 M gross proceeds.
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13,333,333 critical‑minerals flow‑through (CFT) units @ C$0.233 each → ~C$3.106 M gross proceeds.
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Unit Composition:
- NFT unit = 1 common share + ½ common‑share purchase warrant.
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CFT unit = 1 flow‑through common share + ½ warrant.
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Warrant Terms: One whole warrant (from two halves) exercisable into one additional common share at C$0.20 per share, valid for 36 months from closing.
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Use of Proceeds:
- Fund a 15,000‑metre diamond drilling program in 2026 to test Carmacks core and evaluate regional targets.
- CFT proceeds dedicated to Canadian exploration expenses that qualify as flow‑through critical‑minerals mining expenditures (renounced by 31 Dec 2025, spent by 31 Dec 2026).
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Primary focus on the Carmacks property; secondary potential use at Catch, Macks, Milner and Idaho Creek properties.
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Closing & Conditions: Expected closing on or before 22 December 2025, subject to regulatory acceptance; securities subject to a four‑month plus one day hold period in Canada.
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Finders’ Fees: May be paid per TSX Venture Exchange policies.
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Strategic Investor: Placement led by Michael Gentile, a large shareholder of Cascadia.
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Management Quote: Graham Downs (President & CEO) highlighted that the financing will fully fund the expanded 2026 drilling program and noted eight additional resource‑expansion holes drilled in fall, seven intersecting sulphide mineralization.
Notable Quotes
“With the success of our initial resource expansion drill campaign at the Carmacks property this fall, we will be undertaking a significantly expanded work program next year… This financing will fully fund a planned 15,000‑metre diamond drilling program in 2026…” – Graham Downs, President & CEO, Cascadia Minerals Ltd.