Cabral Gold Inc. Announces Terms of Private Placement
Vancouver, British Columbia–(Newsfile Corp. – April 9, 2024) – Cabral Gold Inc. (TSXV: CBR) (OTC PINK: CBGZF) (“Cabral” or the “Company”) is pleased to announce the terms of a non-brokered private placement of up to 12,500,000 units of the Company (the “Units”) at a price of $0.16 per Unit for gross proceeds of up to $2,000,000 (the “Private Placement”). Each Unit will consist of one common share in the capital of the Company (a “Common Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share at an exercise price of $0.24 for two years following the date of closing of the Private Placement (the “Closing Date”).
Finding Fees and Use of Proceeds
Cabral may pay finder’s fees in connection with the Private Placement. Finders will be paid a cash commission equal to up to 6.0% of the gross proceeds of the Private Placement. The Company intends to use the net proceeds from the Private Placement for general corporate purposes and to further the ongoing prefeasibility study on the weathered gold-in-oxide material at the Cuiú Cuiú gold district.
Extended Insights
It is crucial for junior resource companies like Cabral Gold Inc. to maintain a steady flow of capital through private placements to fund exploration and development activities. This allows them to advance their projects and unlock the full potential of the mineral properties they hold. The success of Cabral’s Private Placement will determine the pace at which they can progress with their prefeasibility study and ultimately enhance shareholder value.
About Cabral Gold Inc.
The Company is a junior resource company engaged in the identification, exploration and development of mineral properties, with a primary focus on gold properties located in Brazil. The Company has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in northern Brazil. Two main gold deposits have so far been defined at the Cuiú Cuiú project which contains National Instrument 43-101 compliant Indicated resources of 21.6Mt @ 0.87 g/t gold (604,000 oz) and Inferred resources of 19.8Mt @ 0.84 g/t gold (534,500 oz).
Tapajós Gold Province
The Tapajós Gold Province has a rich history of gold production, making it an attractive region for exploration and mining. The historical placer gold production from areas like Cuiú Cuiú underscores the potential for significant resources to be uncovered through modern exploration methods. Cabral’s focus on this prolific gold district positions them well to capitalize on the region’s mineral potential.
Contact Information
“Alan Carter”
President and Chief Executive Officer
Cabral Gold Inc.
Tel: 604.676.5660
Disclaimer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of the words “will”, “expected” and similar expressions are intended to identify forward-looking statements. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.
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