Canuc Closes Private Placement
March 18, 2021
Canuc Resources Corporation announces the closing of a previously announced Private Placement for gross proceeds of $4,500,000 CAD.
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Canuc Resources Corporation announces the closing of a previously announced Private Placement for gross proceeds of $4,500,000 CAD.
These funds will be used to expand drilling on the Company‘s Kwai property in the Red Lake mining district.
The gross proceeds from the sale of the Offered Shares will be used by the Corporation to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada) related to the Cariboo Gold Project and other exploration assets of the Corporation located in British Columbia.
“It is approaching two years since the Company has provided a group wide option grant. These options represent a way of rewarding the exceptional efforts of the team in executing on our development strategy during difficult circumstances,” stated Doug Ramshaw, President.
Pursuant to the Share Repurchase, the Company has the ability to repurchase up to 10,000,000 common shares of the Company which represents approximately 4.5% of the 221,681,131 issued and outstanding shares of the Company as of March 8, 2021.
Tarachi Gold Corp. is pleased to announce that on March 17, 2021, the Company completed the acquisition from Manto Resources S.A. de C.V. of the Magistral Mill and Tailings project in Durango, Mexico.
Radius Gold Inc. is pleased to announce that together with JV partner, Volcanic Gold Mines, the companies have received final approval from the Ministerio de Ambiente y Recursos Naturales (Ministry of Environment and Natural Resources) to conduct drilling on the Holly Project in eastern Guatemala.
The proceeds from the Private Placement are expected to be used by the Company to complement the acquisition of the Zimapan mine assets, to accelerate exploration activities at the Horizontes (Lomo del Toro) area and for general working capital and corporate purposes.
Mexico could revoke a concession held by Canadian miner Americas Gold and Silver Corp in northern Mexico if it does not accept its new trade union representation there, President Andres Manuel Lopez Obrador said on Wednesday.
El presidente de México, Andrés Manuel López Obrador, dijo el miércoles que está dispuesto a tomar acciones legales, incluida la revocación de una concesión, contra dos mineras canadienses que operan en el país y a las que acusa de violar la ley en una disputa fiscal y en un conflicto sindical.
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