Cariboo Rose Resources Ltd.: Announces Private Placement
Vancouver, 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.
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
Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: info@eastfieldgroup.com
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.
Neither the 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.
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