Canagold Resources Ltd. Announces Closing of $3.22M Charity Flow Through Financing
Canagold Resources Ltd. Announces Closing of $3.22M Charity Flow Through Financing
Vancouver, B.C. – March 4, 2025 - Canagold Resources Ltd. (TSX: CCM, OTC-QB: CRCUF, Frankfurt: CANA)
(the "Company" or "Canagold"), is pleased to announce it has closed a charity flow-through financing. The
Company issued 9,200,000 common shares of the Company ( each a “FT Share”) that qualify as flow -
through shares for the purposes of the Income Tax Act (Canada) at a price of $0.35 per FT Share for total
gross proceeds of $3,220,000 (the “Offering”).
The gross proceeds from the issuance of FT Shares will be used to incur "Canadian exploration expenses"
as such term is defined under subsection 66.1(6) of the Income Tax Act (Canada) and will qualify as "flow-
through mining expenditures" as defined in subsection 127(9) of the Income Tax Act (Canada), and "BC
flow-through mining expe nditures" as defined in subsection 4.721(1) of the Income Tax Act (British
Columbia) at the Company’s New Polaris project.
The Company received conditional approval from the Toronto Stock Exchange (the “TSX”) for the Offering
on February 24, 2025 and is currently seeking final approval.
No finder‘s fees were paid in connection with the Offering. The FT Shares were issued on a private
placement basis and are subject to a hold period of four months and one day following the closing date
of the Offering, expiring on July 5, 2025.
Under the Offering, Sun Valley Investments AG (“ Sun Valley ”) purchased 3,680,0 00 common shares .
Goldlogic Corp. , an affiliate of Sun Valley , purchased 920,000 common shares , with a third investor
purchasing the remaining common shares. Prior to the closing of the Offering, Sun Valley beneficially
owned 68,459,133 common shares and Goldlogic Corp. owned 15,579,000 common shares, which in the
aggregate represents 48.16% of the Company’s total issued and outstanding common shares. Following
the closing of the Offering, Sun Valley beneficially owns 72,139,133 common shares and Goldlogic Corp.
owns 16,499,000 common shares, representin g in the aggregate 48. 25% of the Company’s total issued
and outstanding common shares.
As Sun Valley is an insider of the Company, the Offering is a “related party transaction” as this term is
defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions
(“MI 61 -101”). The Company is relying on the exemption from valuation requirement and minority
approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, for the insider participation
in the Offering, as the FT Shares do not represent more than 25% of the Company’s market capitalization,
as determined in accordance with MI 61-101.
About Canagold
Canagold Resources Ltd. is a growth -oriented gold exploration company focused on advancing the New
Polaris Project through feasibility and permitting. Canagold is also seeking to grow its assets base through
future acquisitions of additional advanced projects. The Company has access to a team of technical
experts to help unlock significant value for all Canagold shareholders.
For further information, please contact:
Catalin Kilofliski, Chief Executive Officer
CANAGOLD RESOURCES LTD
(604)-685-9700
www.canagoldresources.com
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX)
accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking-Statements.pdf