The financing will consist of 4.55 million units at C$0.42 each for C$1.9 million to fund general exploration, 2.15 million units at C$0.475 for C$1 million to fund British Columbia-based exploration, plus 725,000 common shares at C$0.42 for C$300,000.
By 12:40 p.m. ET, the stock traded at C$0.46 for a 31.4% intraday gain and a new 52-week high. The copper-gold explorer has a C$20.75 million market capitalization.
According to Cascadia’s CEO Graham Downs, this financing would allow the company to “significantly expand” the ongoing drill program at its flagship Catch property, where the first 2024 diamond drill hole intersected mineralization over 140 metres on a step-out from last year’s porphyry discovery.
The 117 km2 property is located 56 km southeast of Carmacks in an underexplored part of central Yukon. Inaugural drilling in 2023 returned 116.6 metres of 0.31% copper with 0.30 g/t gold from a new greenfield…
