Cartier Iron Announces $875,000 Financing with a Lead Order from Palisades Goldcorp
NEWS RELEASE
Cartier Iron Announces $875,000 Financing with a Lead Order from
Palisades Goldcorp
Toronto, Ontario, September 2, 2020 – Cartier Iron Corporation (CSE: CFE) (“Cartier Iron” or the
“Company”), is pleased to announce that it is proce eding with a non-brokered private placement (the
“Private Placement”) for proceeds of up to $875,000 , with a lead order from Palisades Goldcorp Ltd.
(“Palisades Goldcorp”). The Private Placement will consist of up to 12,500,000 units of Cartier Iron at a
price of $0.07 per unit (“Units”).
Each Unit will consist of one common share in the capital of Cartier Iron (a “Common Share”) and one
Common Share purchase warrant (a “Warrant”). Each W arrant will entitle the holder to purchase one
Common Share at a price of $0.10 per share for a term of 36 months following the closing of the Private
Placement.
The net proceeds of the Private Placement will be u sed to finance exploration at the Big Easy gold
property, located in the Burin Peninsula epithermal gold best in the Avalon Zone of eastern
Newfoundland, and be utilized as working capital. T he Private Placement is subject to all required
regulatory approval. Insiders of the Company will p articipate in the Private Placement. All securities
issued pursuant to the Private Placement will be su bject to the applicable statutory four-month hold
period.
About Palisades Goldcorp
Palisades Goldcorp is Canada's new resource focused merchant bank. Palisades' management team
has a demonstrated track record of making money and is backed by many of the industry's most notable
financiers. With junior resource equities valued at generational lows, management believes the sector
is on the cusp of a major bull market move. Palisad es is positioning itself with significant stakes in
undervalued companies and assets with the goal of generating superior returns.
About Cartier Iron Corporation
Cartier Iron is an exploration and development Comp any focused on discovering and developing
significant iron ore resources in Quebec, and a pot entially significant gold property in the province of
Newfoundland and Labrador. The Company's iron ore p rojects include the Gagnon Holdings in the
southern Labrador Trough region of east-central Quebec. The Big Easy gold property is located in the
Burin Peninsula epithermal gold belt in the Avalon Zone of eastern Newfoundland.
Please visit Cartier Iron's website at www.cartieriron.com .
For further information please contact:
Thomas G. Larsen Jorge Estepa
Chief Executive Officer Vice-President
(416) 360-8006 (416) 360-8006
The CSE has not reviewed nor accepts responsibility for the adequacy or accuracy of this release.
Statements in this release that are not historical facts are “forward-looking statements” and readers are
cautioned that any such statements are not guarante es of future performance, and that actual
developments or results, may vary materially from those in these “forward-looking statements”.
20 Adelaide Street East, Suite 200 , Toronto, Ontario M5C 1K6 Tel.: (416) 360 -8006 Fax: (416) 361 -1333