Cartier Iron Announces Upsizing of Previously Announced Marketed Private Placement of Units & Flow-Through Units
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NEWS RELEASE
CARTIER IRON ANNOUNCES UPSIZING OF PREVIOUSLY ANNOUNCED 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, June 17, 2021 – Cartier Iron Corporation (C SE:CFE) (“Cartier Iron” or the
“Company”) is pleased to announce that due to inves tor demand in connection with its
previously announced fully marketed private placement offering (the “Offering”), the Company
and Cormark Securities Inc. (“Cormark”), who has ag reed to act as an agent in connection
with the Offering, have agreed to increase the size of the Offering to up to 16,666,667 units
of the Company (the “Units”) at a price of $0.09 pe r Unit for gross proceeds of up to
$1,500,000. The flow-through component of the Offer ing of up to 25,000,000 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 up to $3,000,000 remains
unchanged.
Each Unit will consist of one common share of the C ompany (a “Common Share”) and one
Common Share purchase warrant (a “Warrant”). Each F low-Through Unit will consist of one
Common Share that qualifies as a “flow-through shar e” for the purposes of the Income Tax
Act (Canada) (a “Flow-Through Share”) and one Warrant. Each Warrant will entitle the holder
to acquire one Common Share of the Company at an ex ercise price of $0.14 for a period of
36 months following the closing of the Offering.
The Company has granted Cormark an option, exercisa ble in whole or in part, in the sole
discretion of Cormark, for a period of 30 days from and including the closing date of the
Offering, to purchase additional Offered Units, in an aggregate amount not to exceed 15% of
the Offered Units sold pursuant to the Offering, on the same terms and at the same price as
the Offered Units sold under 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 Unit s will be used on exploration expenses
as permitted under the Income Tax Act (Canada) to qualify as “Canadian exploration
expenses”.
The Offering is scheduled to close on or about July 5, 2021 and is subject to certain conditions
including, but not limited to, the receipt of all n ecessary regulatory and other approvals
including the approval of the Canadian Securities Exchange.
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 States or to or for
the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities
20 Adelaide Street East, Suite 200 , Toronto, Ontario M5C 1K6 Tel.: (416) 360 -8006 Fax: (416) 361 -1333
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 Comp any 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 C ompany's iron ore projects include the
Gagnon Holdings in the southern Labrador Trough reg ion of east-central Quebec. The Big
Easy gold property is located in the Burin Peninsul a 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 hi storical 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”.