Completion of the financing is subject to regulatory approval, including acceptance of the financing by the TSX Venture Exchange.
Subject to closing the 1,500,000 unit offering, Cascadero will have 107.4 million shares issued. Cascadero intends to use the proceeds for continued exploration on recently acquired properties in Ontario. The Ontario properties are primarily volcanic and intrusive hosted gold prospects in the Sudbury, Timmins and Swayze mineral districts.
Cascadero Copper Corp announces a non-brokered private placement of up to 1,500,000 Flow-Through units at C$0.20 per units for a total of $300,000. Each unit consists of one common share and one warrant. The warrant entitles the holder to purchase one non-flow through common share at C$0.20 per share for a period of one-year from closing. The units are subject to a 121-day hold period from closing. There is no agent but finder fees are payable in cash upon request. The warrant is transferrable.