Cassiar Gold Closes Upsized and Oversubscribed $3.5M Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES
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NEWS RELEASE
Cassiar Gold Closes Upsized and Oversubscribed $3.5M Private Placement
HONG KONG AND CALGARY, ALBERTA – (August 16, 2021)
Cassiar Gold Corp. (TSX VENTURE:GLDC , OTCQX:CGLCF) ("Cassiar" or the "Company") is pleased to announce that
further to its amended press release dated July 27, 2021, and subject to receiving final regulatory approvals, it has
closed its over-subscribed non-brokered private placement (the ”Offering”) by issuing:
● 520,972 flow-through units (“Flow-Through Units”) at a price of $0.60 per Flow-Through Unit; and
● 5,312,360 premium flow-through units (“Premium Flow -Through Units”) at a price of $0.60 per Premium
Flow-Through Unit.
Gross proceeds raised under Offering were approximately $3.5 Million.
Each Flow-Through Unit consists of one common share issued on a "CEE flow-through" basis pursuant to the Income
Tax Act (Canada) ("CEE Share") in the capital of the Company and one flow-through Common Share purchase warrant
("FT Warrant”). Each FT Warrant wil l be exercisable by the holder thereof to acquire on e CEE Share at a price of
$0.675 for a period of 24 months following the closing date of the Offering.
Each Premium Flow -Through Unit consists of one CEE Share and one warrant ("Warrant"). Each Warrant wi ll be
exercisable by the holder thereof to acquire one common share in the capital of the Company (a “Warrant Share”)
at a price of C$0.675 for a period of 24 months following the closing date of the Offering.
The proceeds from this financing will be use d for the ongoing exploration and drilling programs at the Company’s
flagship Cassiar Gold Project in northern British Columbia.
In connection with the Offering, the Company paid certain persons finders’ fees consisting of cash payments and
non-transferable Warrants equal to 6%, respectively, of the aggregate proceeds raised from the sale of Flow-Through
Units and Premium Flow-Through Units to subscribers introduced to the Company by the finder.
The securities issued pursuant to the Offering are subject to a four -month hold period under applicable securities
laws.
About Cassiar Gold Corp.
Cassiar Gold Corp. (TSX.V: GLDC, OTCQB: CGLCF) is a Canadian gold exploration company focused on exploration in
British Columbia, and is directed by a gro up of highly successful business executives. The Company’s key asset, the
Cassiar Gold Project, is a large, highly prospective, road-accessible gold property that encompasses the entire Cassiar
gold mining district. The Company has a NI 43 -101-compliant inferred resource estimate of 1M oz at 1.43 g/t Au at
the Taurus bulk-tonnage gold deposit and has high potential for further discovery and expansion of bonanza grade
orogenic gold veins in the past -producing Cassiar South area. Historical underground mining in the Cassiar south
area yielded over 300,000 oz of Au at grades of between 10 and 25 g/t Au, underscoring the high-grade potential of
the district. The Property hosts numerous gold showings, historical workings, and exploration prospects over a >15
km long and up to 10 km wide trend. It also has a fully permitted 300 tpd mill and tailings facility which could provide
the potential for near term production if new and expanded high grade resources are defined in the areas of active
mining leases that cover some of the most prospective parts of the South Cassiar area. Cassiar Gold acknowledges,
respects, and supports the rights of Traditional First Nations in the lands and communities where we operate.
NOT FOR DISSEMINATION IN THE UNITED STATES
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Forward Looking Statements
This press release may contain forward looking statements including those describing Cassiar's future plans and the
expectations of management that a stated result or condition will occur. Any statement addressing future events or
conditions necessarily in volves inherent risk and uncertainty. Actual results can differ materially from those
anticipated by management at the time of writing due to many factors, the majority of which are beyond the control
of Cassiar and its management. In particular, this news release contains forward -looking statements pertaining,
directly or indirectly, to the following: Cassiar's exploration plans and work commitments, the use of proceeds of the
Offering and economic factors, the TSX Venture Exchange’s approval, business and operations strategies. Readers
are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak
only as of the date of this release or as of the date specified in the documents accompanying this release, as the case
may be. The Company undertakes no obligation to publicly update or revise any forward -looking statements except
as expressly required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as tha t term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Cassiar Gold Corp.
Marco Roque
CEO and a Director
+852 6691 6295