On September 21st 2012 Cascadero Copper Corp announced a Flow Through offering for a non-brokered Private Placement of up to 3,000,000 Units at C$0.12 for gross proceeds of $360,000.
The Company is increasing the offering to be up to 4,166,666 units for gross proceeds of $500,000. Each Unit consists of one Flow Through Common Share and one Flow Through Common Share Purchase Warrant. One Flow through Common Share Purchase Warrant entitles the holder to purchase one Flow Through Common Share at C$0.14 per share for a period of two-years from closing. The Units are subject to a 121-day hold period from closing and the Flow Through Common Share Purchase Warrant is subject to an Accelerated Expiry Date provision. The Flow Through Common Share Purchase Warrant is not transferable.
The non-brokered Private Placement is subject to regulatory approval and, in accordance with Exchange policy, finder fees may be payable on a portion of the funds raised.
Cascadero intends to use the proceeds for continued exploration on its Ontario properties, which are primarily volcanic and intrusive hosted gold prospects located in Sudbury, Timmins and Swayze.