/NOT FOR DISSEMINATION IN THE US OR THROUGH
NEWSWIRE SERVICES/
VAL-D'OR, QC, May 8, 2017 /CNW/ - Cartier Resources
Inc. ("Cartier" or the "Company") (TSXV:ECR) is pleased
to announce that it has entered into an agreement with Canaccord
Genuity Corp. (the "Lead Underwriter"), and including Paradigm
Capital Inc. (together with the Lead Underwriter, the
"Underwriters"), in connection with a bought deal private placement
of common shares of the Company pursuant to which the Underwriters
will purchase 22,250,000 common shares of the Company (the
"Offering Shares") at a price of $0.27 per Offering Share to raise aggregate gross
proceeds of $6,007,500 (the
"Offering").
The net proceeds raised through the Offering 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
May 30, 2017 (the "Closing Date").
Closing of the Offering is subject to receipt of regulatory
approvals, including the acceptance of the Offering by the TSX
Venture Exchange. The Offering Shares 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 the securities described herein in
the United States. The securities
described herein have not been and will not be registered under the
United States Securities Act of 1933, as amended, and may not be
offered or sold in the United
States or to the account or benefit of a U.S. person absent
an exemption from the registration requirements of such
Act.
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 the next fifteen months. Purpose of the drill program is
to explore the depth and lateral extensions of known high grade
gold mineralization contained within four of Cartier's prospective projects, namely Chimo
Mine, Wilson, Benoist and Fenton, with the objective of advancing
these 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.ressourcescartier.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 release may contain forward-looking statements.
Generally, forward-looking statements can be identified by
the use of words such as "plans", "expects" or "is expected",
"scheduled", "estimates" "intends", "anticipates", "believes", or
variations of such words and phrases, or statements that certain
actions, events or results "can", "may", "could", "would",
"should", "might" or "will", occur or be achieved, or the negative
connotations thereof. 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
different from the future results, performance or achievements
expressed or implied by such statements. These risks include,
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 regulation, risks and uncertainties
relating to the interpretation of drill and sample results, risks
related to the uncertainty of cost and time estimation and the
potential for unexpected delays, costs and expenses, risks related
to metal price fluctuations, the market for gold products, and
other risks and uncertainties related to the Company's prospects,
properties and business detailed elsewhere in the Company's
disclosure record. Although the Company believes its expectations
are based upon reasonable assumptions and has attempted to identify
important factors that could 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 should not be placed on forward-looking
statements.
SOURCE Cartier Resources Inc.