Cascadia Announces Closing of C$3M Private Placement
Cascadia Announces Closing of C$3M Private
Placement
VANCOUVER, BC
,
Aug. 15, 2025
/CNW/ - Cascadia Minerals Ltd. ("
Cascadia
") (TSXV:CAM)
(OTCQB:CAMNF) is pleased to announce that is has closed its previously announced non-brokered
private placement (the "
Placement
") for total proceeds of
C$3,000,000
(see news release dated
July 24, 2025
for more details).
The Placement consisted of the sale of 13,043,479 common shares (each a "
FT Share
") at a price
of
$0.23
per FT Share for total gross proceeds of
$3,000,000
. Each FT Share will qualify as a
"flow-through share" within the meaning of subsection 66(15) of the
Income Tax Act
(
Canada
) ("
Tax
Act
"). The FT Shares are subject to a hold period under applicable Canadian securities laws until
December 16, 2025
.
"With this financing and the Granite Creek acquisition completed we are fully funded to complete
our first phase of resource expansion work at the
Carmacks
project,"
stated
Graham Downs
,
Cascadia's President and CEO.
"Work is scheduled to commence in early September, with two
drills booked and up to
4,000 m
of drilling planned this fall. Our technical team continues to review
the
Carmacks
project data, and has identified numerous compelling step-out targets around the
existing resource. We're excited to have work underway shortly at this road-accessible property
with existing infrastructure and a low cost of drilling."
The gross proceeds from the issuance and sale of the FT Shares will be used for "Canadian
exploration expenses" that qualify as "flow-through critical mineral mining expenditures", as both
terms are defined in the Tax Act (the "
Qualifying Expenditures
"). The Qualifying Expenditures will
be incurred on or before
December 31, 2026
, and will be renounced to the subscribers with an
effective date no later than
December 31, 2025
, in an aggregate amount not less than the gross
proceeds raised from the issuance of the FT Shares. No finder's fees were paid on any portion of
the Placement.
The proceeds from the Placement will be used for critical minerals exploration on Cascadia's
Yukon
properties, primarily at the Carmacks Project.
About Cascadia
Cascadia's flagship asset is the Carmacks Project in the high-grade
Minto
copper district in
Yukon
Territory, Canada
. The project is located 35km south of the past-producing
Minto
mine, which was
recently acquired by Selkirk Copper Mines. The Carmacks Project hosts a Measured and Indicated
Resource containing 651 Mlbs of copper and 302 koz of gold (36.3 million tonnes grading 0.81 %
copper, 0.26 g/t gold, and 3.23 g/t silver and 0.01% molybdenum) with a 2023 PEA demonstrating
positive economic potential (
$230.5M
Post-Tax NPV
(5%)
and 29% Post-Tax IRR).
Cascadia also has a pipeline of discovery stage copper-gold properties throughout the Yukon Stikine
Terrane including its Catch Property, which hosts a copper-gold porphyry discovery where inaugural
drill results returned broad intervals of mineralization (
116.60 m
of 0.31% copper with 0.30 g/t gold).
Catch exhibits extensive high-grade copper and gold mineralization across a 5 km long trend, with
rock samples returning peak values of 3.88% copper, 1,065 g/t gold, and 267 g/t silver.
QA/QC
The technical information in this news release has been approved by
Andrew Carne
, P.Eng., VP
Corporate Development for Cascadia and a qualified person for the purposes of National Instrument
43-101.
Prospecting grab samples referenced in this release represent highlight results only, and include
results from 2024 and previous seasons. Below detection values for copper, gold and silver have
been encountered in grab samples in these target areas. For more details on Catch drilling and
prospecting results, please see Cascadia's News Releases dated
July 25, 2024
, and
July 19
,
2023. The Mineral Resources and economic analysis disclosed here are referenced from the 2023
Technical Report on the Carmacks Project Preliminary Economic Assessment, authored by SGS
Canada Inc. for Granite Creek Copper. Pricing for the Carmacks Project PEA base case economic
analysis was US
$3.75
/lb copper, US
$1,800
/oz gold, and US
$22
/oz silver at an exchange rate of
$1
:
US$0.75
. The results of the
Carmacks
preliminary economic assessment are preliminary in
nature, it includes inferred mineral resources that are considered too speculative geologically to have
the economic considerations applied to them that would enable them to be categorized as mineral
reserves, and there is no certainty that the preliminary economic assessment will be realized.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Cautionary note regarding forward-looking statements:
This press release may contain "forward-looking information" within the meaning of applicable
securities laws. Readers are cautioned to not place undue reliance on forward-looking
information. Actual results and developments may differ materially from those contemplated by
these statements. The statements in this press release are made as of the date of this press
release. Cascadia and Granite Creek undertake no obligation to update forward-looking
information, except as required by securities laws.
SOURCE
Cascadia Minerals Ltd.
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For further information:
For further information, please contact: Andrew Carne, M.Eng., P.Eng.,
VP Corporate Development, Cascadia Minerals Ltd., T: 604-688-0111 ext. 106,
CO: Cascadia Minerals Ltd.
CNW 09:15e 15-AUG-25