Cascadia Minerals closes $3-million financing

Executive Summary

• Cascadia Minerals closed a non‑brokered private placement raising $3 million from the sale of 13,043,479 flow‑through common shares at C$0.23 per share.
• Proceeds will fund Canadian exploration expenses on the Carmacks project and other Yukon properties, with drilling slated to begin in early September (up to 4,000 m planned this fall).
• The financing, together with the recent Granite Creek acquisition, fully funds Cascadia’s first phase of resource expansion work at Carmacks.

Key Details

• Placement Size: $3 million gross proceeds.
• Shares Issued: 13,043,479 common flow‑through shares at C$0.23 per share.
• Hold Period: Shares subject to a hold period until December 16, 2025 under Canadian securities laws.
• Use of Proceeds: Entire amount allocated to flow‑through critical mineral exploration expenses on Yukon properties (primarily Carmacks), to be incurred by December 31, 2026 and renounced to subscribers by December 31, 2025.
• No Finder’s Fees: The placement was executed without any finder’s fees paid.
• Operational Plans: Drilling at Carmacks scheduled to start early September 2025; two drill rigs booked for up to 4,000 m of drilling this fall.
• Strategic Context: Financing complements the recent Granite Creek acquisition, providing full funding for the first phase of resource expansion at Carmacks.
• Technical Approval: Technical information approved by Andrew Carne, P.Eng., Vice‑President of Corporate Development (qualified person under NI 43‑101).

Notable Quotes

“With this financing and the Granite Creek acquisition completed, we are fully funded to complete our first phase of resource expansion work at the Carmacks project,” – Graham Downs, President & CEO.
“Work is scheduled to commence in early September, with two drills booked and up to 4,000 metres of drilling planned this fall.” – Graham Downs.