Cartier Iron Announces Closing of Marketed Private Placement of Units & Flow-Through Units
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NEWS RELEASE
CARTIER IRON ANNOUNCES CLOSING OF MARKETED PRIVATE PLACEMENT OF
UNITS & FLOW-THROUGH UNITS
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES
(In Canadian Dollars unless otherwise stated)
TORONTO, Ju ly 7, 2021 – Cartier Iron Corporation (CSE:CFE) (“Cartier Iron” or the
“Company”) is pleased to announce that it has closed its previously announced fully marketed
private placement offering (the “Offering”) (see press releases dated June 14, 2021 and June
17, 2021) with Cormark Securities Inc. (“Cormark”) acting as the agent. Under the Offering,
which includes t he exercise in full of the option granted to Cormark , the Company issued: (i)
19,166,667 units of the Company (the “Units”) at a price of $0.09 per Unit for gross
proceeds of $1,725,000.03, and (ii) 28,750,000 flow-through units of the Company (the “Flow-
Through Units”, collectively with the Units, the “Offered Units”) at a price of $0.12 per Flow -
Through Unit for gross proceeds of $3,450,000.
Each Unit consist s of one common share of the Company (a “Common Share”) and one
Common Share purchase warrant of the Company (a “Warrant”). Each Flow-Through Unit
consists of one Common Share (a “Flow-Through Share”) and one Warrant, each of which
qualifies as a “flow -through share” for the purposes of the Income Tax Act (Canada). Each
Warrant entitles the holder to acquire one Common Share at an exercise price of $0.14 for a
period of 36 months following the closing of the Offering.
The net proceeds from the sale of the Units will be used for exploration expenditures and for
working capital and general corporate purposes. The proceeds from the sale of the Flow-
Through Units will be used on exploration expenses as permitted under the Income Tax Act
(Canada) to qualify as “Canadian exploration expenses”.
Additionally, the Company would like to again welcome as a new Company shareholder Peter
Marrone, the founder and Executive Chairman of Yamana Gold Inc., who has known Dr. Bill
Pearson, P. Geo., Chief Technical Advisor for Cartier, since 2006.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of
the securities in the United States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the " U.S. Securities Act"), or
any state securities laws and may not be offered or sold within the United S tates or to or for
the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities
Act) unless registered under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
About Cartier Iron Corporation
Cartier Iron is an exploration and development Company focused on discovering and
developing significant iron ore resources in Quebec, and a potentially significant gold property
in the province of Newfoundland and Labrador. The Company's iron ore projects include the
Gagnon Holdings in the southern Labrador Trough region of east -central Quebec. The Big
20 Adelaide Street East, Suite 200, Toronto, Ontario M5C 1K6 Tel.: (416) 360-8006 Fax: (416) 361-1333
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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 guarantees of future
performance, and that actual developments or results, may vary materially from those in these
“forward-looking statements”.