Vancouver, BC / TheNewswire / July 31, 2017- Cariboo Rose Resources Ltd. (TSX-V: CRB) ("Cariboo Rose") is currently negotiating a private placement agreement, subject to regulatory approval, for the sale of up to three million units consisting of a mix of flow-through units priced at $0.12 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 $0.14 per share for a term of one year from the date of closing of the private placement) and non-flow-through units priced at $0.10 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 $0.14 per share for a term of one year from the date of closing of the private placement).
The total gross proceeds of the offering, if completely subscribed, will vary between $300,000 and $360,000, 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.
Cariboo Rose will pay a finder's fee on the portion of the placement introduced to the company by investment advisers. The fee will consist of 6% payable in shares, valued at $0.10 per share.
The proceeds of the flow-through placement shall be applied to exploration costs on the Company's Yukon and British Columbia mineral properties. The proceeds of the non-flow-through placements shall be applied to general working capital.
About Cariboo Rose Resources Limited
In addition to its 100% owned Canadian Creek property Cariboo Rose owns interests in five mineral projects in British Columbia three of which are 100% owned. Cariboo Rose also owns a strategic investment of free trading shares in Western Copper and Gold Corp.
