Caelan Closes $480,000 Financing
CAELAN CAPITAL INC.
FOR IMMEDIATE RELEASE
CAELAN CLOSES $480,000 FINANCING
Vancouver, British Columbia – October 30, 2020 – Caelan Capital Inc. (“Caelan” or the “Company”) (CSE:
CDN; OTCPINK: AXVEF; Frankfurt: A117RU) is pleased to announce that it has closed its private placement
for gross proceeds of $480,000 by issuing 8,000,000 units at a price of $0.06 per unit. Each unit consists of
one common share and one transferrable share purchase warrant exercisable at $0.08 for five years from
the date of issuance.
All shares and warrants issued pursuant to this financing will be subject to a statutory hold period of four
months plus a day from the date of clo sing. No finder’s fees were paid on this transaction. Insiders of the
company subscribed for 2,700,000 units for gross proceeds of $162,000.
Proceeds from the placement will be used for general working capital and exploration expenditures.
About Caelan Capital Inc.
Caelan Capital Inc. is a Vancouver-based junior resource company with projects in North America. Caelan is focused on the development of the
following mineral properties:
The Ranger Lake Gold Project consists of 1,107 hectares of prospective gold exploration in southern Quebec, Canada.
The Rainbow Canyon Gold Property consists of 417 hectares of prospective gold exploration in the Olinghouse mining district, in the
Washoe County Nevada.
ON BEHALF OF THE BOARD OF DIRECTORS
“Sandy MacDougall”
Chairman & Director
Phone: (604) 662-7902
This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking
information can include wi thout limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantee s of future
performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by
such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital . These risks and uncertainties could cause
actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could
differ materially from anticipated in such information. These and all subsequent written and oral forward - looking information are based on estimates and opinions of
management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obliga tion to update forward -looking
information should circumstance or management’s estimates o r opinions change.
Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policie s of the CSE) accepts responsibility for the
adequacy or accuracy of this release.
CSE: CDN
OTCPINK: AXVEF
Frankfurt: A117RU