Cartier Resources completes $3.5M flow-through financing

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By CPE News

Val-D’or, QC (pcJ News Briefs) – Cartier Resources Inc. (TSX-V: ECR) has completed a brokered private placement of 12,880,000 flow-through (FT) shares at $0.27 per FT share for gross proceeds of C$3,477,600.

Paradigm Capital Inc. acted as agent for the offering.

Pursuant to the Investor Rights Agreement between Cartier and Agnico Eagles Mines Limited, Agnico Eagle has maintained its approximate pro-rata 19.85% interest in Cartier after giving effect to the offering

Cartier Resources intends to use the gross proceeds for “Canadian Exploration Expenses” related to its Québec mining claims.

photo credit: Cartier Resources