Vancouver, BC / TheNewswire / November 29, 2016- Cariboo Rose Resources Ltd. (TSX-V: CRB) ("Cariboo Rose") is currently negotiating a non-brokered private placement agreement, subject to regulatory approval, for the sale of up to 10,000,000 units consisting of mix of flow-through units priced at of $0.09 per unit (each unit comprising one flow-through common share and one warrant for the purchase of an additional non-flow-through common share at a price of $0.12 per share for a term of two years from the date of closing of the private placement) and non-flow-through units priced at $0.07 per unit (each unit comprising one non-flow-through common share and one warrant for the purchase of an additional non-flow-through common share at a price of $0.12 per share for a term of two years from the date of closing of the private placement).
The total gross proceeds of the offering, if completely subscribed, will vary between $760,000 and $840,000 depending on the ratio of non-flow-through to flow-through units and will be used primarily to advance exploration at the company's Canadian Creek gold project located in the Yukon Territory and to provide administration costs for a period of one year.
Cariboo Rose will pay a finder's fee on the portion of the placement introduced to the company by unrelated advisers. The fee will consist of 6% paid in cash on the gross proceeds of this portion of both flow-through and non-flow-through units and finders warrants exercisable for non-flow-through shares equal in number to 6% of this portion for both flow-through and non-flow-through units on the same terms as described above.
This offering is subject to approval of the TSX Venture Exchange.
On behalf of the board of directors of Cariboo Rose Resources Ltd.;
Donald D. Sharp
Donald D. Sharp, C.A.
Director & CFO
Cariboo Rose Resources Ltd.
Contact:
Paul Way, Business Development Manager
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: This email address is being protected from spambots. You need JavaScript enabled to view it.
About Cariboo Rose Resources Limited
Cariboo Rose Resources is a prospect generating mineral exploration company with seven gold, copper and molybdenum exploration projects in British Columbia and the Yukon. Cariboo Rose trades on the TSX Venture exchange under the symbol "CRB". For more information please visit the Company's website at www.cariboorose.com.
