Cartier Resources Announces $4.0 Million Bought Deal Flow-Through Private Placement and $2.0 Million Common Share Private Placement
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THE UNITED STATES
Cartier Resources Announces $4.0 Million Bought Deal Flow-Through
Private Placement and $2.0 Million Common Share Private Placement
Val-d’Or, Quebec – November 8 , 201 7 – Cartier Resources Inc . (“Cartier” or the “Company”)
(TSXV:ECR) is pleased to announce that it has entered into an agreement with Sprott Capital Partners to
act as the lead underwriter in connection with a bought deal underwritten private placement of 12,120,000
common shares of the Company issued on a flow-through basis (the “FT Shares”), at a price of $0.33 per
FT Share, for gross proceeds of $3,999,600, as well as the sale on an “best efforts” agency basis of up to
10,000,000 common shares of the Company (the “Common Shares”), at a price of $0.20 per Common
Share, for gross proceeds of up to $2,000,000. Collectively the FT Share offering and Common Share
offering shall be known as the “Offering”.
In connection with the Offering, Sprott Capital Partners will be entitled to a cash fee in an amount equal
to 6.0% of the gross proceeds of the Offering , to be paid at closing. As ad ditional consideration, the
Company will grant to Sprott Capital Partners that number of non-transferable common share purchase
warrants (the “Broker Warrants”) as is equal to 6.0% of the aggregate number of FT Shares and Common
Shares sold in the Offering. Subject to regulatory approval, each Broker Warrant will be exercisable to
acquire one common share of Cartier at a price equal to $0. 27 for a period of two years following the
closing of the Offering.
The gross proceeds from the i ssuance of FT Shares will be used for Canadian Exploration Expenses
(CEE), and will qualify as “flow -through mining expenditures” under the Income Tax Act (Canada), and
also qualify for the two 10% enhancements under the Taxation Act (Quebec), which will be renounced to
the subscribers with an effective date no later than December 31, 2017 to the initial purchasers of FT
Shares in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares.
The net proceeds raised through th e sale of the Common Shares will be used to fund further exploration
on the Company’s Chimo Mine, Wilson, Benoist and Fenton properties and for general working capital
purposes.
Closing of the Offering is anticipated to occur on or about November 30, 2017, or such other date or dates
as the Company and Sprott Capital Partners may agree. Closing of the Offering is subject to receipt of
regulatory approvals, including the acceptance of the Offering by the TSX Venture Exchange . The FT
Shares and Common Share s sold under the Offering will be subject to a four month hold period under
applicable securities laws in Canada.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be
any sale of any of the securit ies in any jurisdiction in which such offer, solicitation or sale would be
unlawful, including any of the securities in the United States of America. The securities have not been and
will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any
state securities laws and may not be offered or sold within the United States or to, or for account or
benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933
Act and applic able state securities laws, or an exemption from such registration requirements is
available.
About Cartier Resources Inc.
Cartier Resources Inc . holds an attractive portfolio of advanced stage gold exploration assets located
within the Abitibi Greenstone Belt in Val-d'Or, Québec – one of the most prolific mining regions in the
world. On April 6, 2017, the Company’s Board of Directors approved a 50,000-meter drill program to be
conducted over fifteen months. Purpose of the drill program is to explore the depth and lateral extensions
of known high grade gold mineralization contained with in four of Cartier’s prospective projects, namely
Chimo M ine, Wilson, Benoist and Fenton, with the objective of advancing thes e assets toward new
resource estimates.
Additional information regarding Cartier Resources Inc. is available on SEDAR at www.sedar.com under
the Company's profile and at its website at www.resourcescartier.com.
For further information, please contact:
Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819 856-0512
www.resourcescartier.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture
Exchange Inc. has in no way approved nor disapproved the contents of this press release.
Forward Looking Statements - Certain information set forth in this news rele ase may contain forward -looking
statements. Generally, forward-looking statements can be identified by the use of word s such as “plans”, “expects”
or “is expected”, “scheduled”, “es timates” “intends”, “anticipates”, “believes”, or variations of such words and
phrases, or statements that certain actions, events or results “can”, “may”, “cou ld”, “would”, ”should”, “might”
or “will”, occur or be achieved, or the negative connotations th ereof. These forward-looking statements are subject
to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the
actual results, performance or achievements of the Company to be materially dif ferent fro m the future results,
performance or achievements expressed or implied by such statements. These risks inc lude, without limitation, risks
related to failure to obtain adequate financing on a timely basis and on acceptable terms, political and regulatory
risks associated with mining and exploration activities, including environmental regu lation, risks and uncertainties
relating to the interpretation of drill and sample results, risks related to the uncertai nty of cost and time estimation
and the potential fo r unexpected delays, costs and expenses, risks related to metal pri ce fluctuations, the market for
gold products, and other risks and uncertainties related to the Company's pro spects, properties and business
detailed elsewhere in the Company’s disclosure record. Although the Company beli eves its expectations are based
upon reasonable assumptions and has attempted to identify important factors that cou ld cause actual actions, events
or results to differ materially from those described in forward -looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or intended and undue reliance sh ould not be
placed on forward-looking statements.