Cartier Resources Completes Private Placement

VAL-D'OR, Quebec, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSX-V: ECR) is excited to share that it has successfully finished a non-brokered private placement of 7,692,308 flow-through common shares. These shares were sold at a price of $0.13 each, leading to total gross proceeds of $1,000,000.04.

Each of these flow-through shares meets the qualifications of a “flow-through share” under subsection 66(15) of the Income Tax Act (Canada) as well as section 359.1 of the Taxation Act (Québec) for eligible subscribers from Québec. The flow-through shares will be officially renounced, with an effective date no later than December 31, 2024, for the initial buyers of these shares in an amount that is at least equal to the gross proceeds obtained from this placement.

As part of this private placement, Cartier paid a finder's fee to Mine Equities Ltd., which is an exempt market dealer. This fee consisted of 687,500 common shares of the company.

The completion of the flow-through private placement is pending approval from the TSX Venture Exchange. All securities issued in this placement will be under a hold period of four months and one day, according to applicable Canadian securities regulations.

About Cartier Resources Inc.

Founded in 2006, Cartier Resources Inc. operates as an exploration company based in Val-d’Or, Quebec. All of the company’s projects are situated in Quebec, recognized globally for its favorable mining conditions. Cartier is actively developing its flagship Cadillac Project while also exploring other projects in its portfolio. The company has gained considerable support from both corporate and institutional investors, including Agnico Eagle Mines, O3 Mining, and various investment funds in Quebec.

Cautionary Statement

It is important to note that certain statements in this press release may represent forward-looking information, as defined by Canadian securities laws. These statements rely on the beliefs, assumptions, and opinions of management on the date they are made and are subject to many risks and uncertainties. Such factors could lead to actual results and future events significantly differing from what is anticipated or projected. The company does not commit to updating these forward-looking statements unless required by law.

For more details, please reach out to:
Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819-856-0512
[email protected]
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider is responsible for the accuracy or adequacy of this announcement.

Cartier, PrivatePlacement, Investment