Canadian Gold Resources (TSXV: CAN) Secures Additional Capital for Exploration and Development

Canadian Gold Resources (TSXV: CAN) has announced a strategic move to raise CAD $1.5 million through a non-brokered private placement of flow-through units and non-flow-through units. This capital raise aligns with the company's long-term growth strategy, enabling it to fund exploration and development activities, particularly at the Lac Arsenault Project.

The private placement consists of up to 3,000,000 flow-through units at a price of CAD $0.50 per unit and up to 2,000,000 non-flow-through units at a price of CAD $0.45 per unit. The proceeds from the flow-through units will be used to fund exploration and development activities, while the proceeds from the non-flow-through units will be used for general working capital purposes.

The Lac Arsenault Project is a high-grade gold project located in the Gaspé Gold Belt of Quebec. The project hosts significant gold deposits, with an estimated 10,000 tonnes of material to be extracted. The private placement will enable Canadian Gold Resources to continue its exploration activities and advance the Lac Arsenault Project, potentially leading to the discovery of new resources and the expansion of its existing projects.

Canadian Gold Resources is led by Ronald Goguen, founder of Major Drilling, who brings over 40 years of experience in advancing exploration projects to development. The company is committed to sustainability and community engagement, leveraging modern exploration techniques to unlock value in the historic and promising gold region of Quebec.

The allocation of funds from the private placement will support the company's growth strategy by funding exploration and development activities at the Lac Arsenault Project. The placement is expected to generate approximately 4,000 ounces of gold production, with an anticipated revenue of CAD $9 million at a gold price of USD $1,800 per ounce and an exchange rate of 1.25.

Canadian Gold Resources' commitment to exploration and development is evident in its strategic move to raise additional capital. The private placement will enable the company to continue its exploration activities, potentially leading to the discovery of new resources and the expansion of its existing projects. This capital raise aligns with the company's long-term growth strategy, ultimately enhancing shareholder value.