Cabral Gold Announces Upsizing of Best Efforts Financing to $13 Million
Cabral Gold Announces Upsizing of Best
Efforts Financing to $13 Million
Vancouver, British Columbia--(Newsfile Corp. - April 25, 2025) -
Cabral Gold Corp. (TSXV: CBR)
(OTCQX: CBGZF) ("Cabral" or the "Company")
is pleased to announce that the Company has
entered into an amending agreement with Paradigm Capital Inc. as sole agent ("Agent") to increase the
size of its previously announced "best efforts" financing, pursuant to which the Agent may now arrange
for the sale of up to 34,212,000 units of the Company (the "Units") at a price of C$0.38 per Unit (the
"Offering Price") for gross proceeds of up to C$13,000,560 (the "Upsized Offering"). Each Unit will be
comprised of one common share in the capital of the Company and one-half of one common share
purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant will be exercisable
to acquire one common share in the capital of the Company (a "Warrant Share") for 24 months from the
closing of the Upsized Offering at an exercise price of $0.56 per Warrant Share.
The Company has granted the Agent an option, exercisable, in whole or in part, for up to 30 days
following the closing of the Upsized Offering, to sell the number of Units equal to up to an additional 15%
of the Units sold pursuant to the Upsized Offering at the Offering Price to cover over-allotments, if any.
In all other respects, the terms of the Upsized Offering and the use of proceeds therefrom remain as
previously disclosed in the Company's press release dated April 23, 2025.
The Units will be issued pursuant to a prospectus supplement (the "Prospectus Supplement") to the
Company's short form base shelf prospectus dated April 4, 2025 (the "Base Shelf Prospectus") that will
be filed with the securities' regulatory authorities in each of the provinces and territories of Canada,
except Québec.
Access to the Prospectus Supplement, Base Shelf Prospectus, and any amendments thereto is
provided in accordance with applicable securities legislation relating to the procedures for providing
access to a shelf prospectus supplement, a base shelf prospectus and any amendment. An electronic or
paper copy of the Base Shelf Prospectus and the Prospectus Supplement, when available, may be
obtained, without charge, from the Agent by e-mail at [email protected] by providing the Agent
with an email address or address, as applicable. Prospective investors should read the Base Shelf
Prospectus, Prospectus Supplement, and the documents incorporated by reference therein, as filed by
the Company on SEDAR+ at
www.sedarplus.ca
before making an investment decision.
The securities to be offered pursuant to the Upsized Offering have not been, and will not be, registered
under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the
United States or to, or for the account or benefit of, United States persons absent registration or any
applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S.
state securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there
be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Cabral Gold Inc.
The Company is a junior resource company engaged in the identification, exploration and development
of mineral properties, with a primary focus on gold properties located in Brazil. The Company has a
100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in
northern Brazil. Three main gold deposits have so far been defined at the Cuiú Cuiú project which
contain National Instrument ("NI") 43-101 Indicated resources of 12.29Mt @ 1.14 g/t gold (450,200oz) in
fresh basement material and 11.11Mt @ 0.48 g/t gold (171,883oz) in oxide material. The project also
contains Inferred resources of 13.63Mt @ 1.04 g/t gold (455,100oz) in fresh basement material and
12.22Mt @ 0.39 g/t gold (151,608oz) in oxide material. The resource estimate for the primary material is
based on the NI 43-101 technical report dated 12th October 2022. The resource estimate for the oxide
material is based on the NI 43-101 estimate released on 21st October 2024.
The Tapajós Gold Province is the site of the largest gold rush in Brazil's history which according to the
ANM (Agência Nacional de Mineração or National Mining Agency of Brazil) produced an estimated 30
to 50 million ounces of placer gold between 1978 and 1995. Cuiú Cuiú was the largest area of placer
gold workings in the Tapajós and produced an estimated 2Moz of placer gold historically.
FOR FURTHER INFORMATION PLEASE CONTACT:
"
Alan Carter
"
President and Chief Executive Officer
Cabral Gold Inc.
Tel: 604.676.5660
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking Statements
Certain information contained herein constitutes "forward-looking information" under Canadian
securities legislation. Forward-looking information includes, but is not limited to, statements with respect
to the terms of the Offering, the Offering closing by the Closing Date or at all, the TSX Venture Exchange
approving the Offering, the Company filing the Prospectus Supplement and the timing thereof, the
Company's intended use of proceeds of the Offering, the terms of the Agents' cash compensation and
compensation warrants, and Mr. Sprott's participation in the Offering on the amount described herein or
at all. Generally, forward-looking information can be identified by the use of forward-looking terminology
such as "will", "will be", "intends", "expected" or variations of such words and phrases or statements that
certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made and are necessarily based upon a
number of assumptions and estimates that, while considered reasonable by management of the
Company, they are subject to known and unknown risks, uncertainties and other factors that may cause
the actual results to be materially different, including receipt of all necessary regulatory approvals.
Although management of the Company have attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking statements or forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or intended
including without limitation those factors discussed under the heading "Risk Factors" in the Base Shelf
Prospectus and other filings of the Company with the Canadian Securities Authorities, copies of which
can be found under the Company's profile on SEDAR+. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on forward-looking statements
and forward-looking information. The Company will not update any forward-looking statements or
forward-looking information that are incorporated by reference herein, except as required by applicable
securities laws.
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DISSEMINATION IN THE UNITED STATES
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