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Cariboo Rose Resources Closes Private Placement


December 28, 2016

Cariboo Rose Resources Ltd. has completed a private placement, which was fully subscribed, for the sale of 10 million units at a price of nine cents per flow-through unit and seven cents per non-flow-through (each unit comprising one common share and one warrant for the purchase of one additional non-flow-through common share at a price of 12 cents per share for a term of two years from the date of TSX Venture Exchange approval of the private placement). All the securities issued in the private placement are subject to a four-month hold period.

Gross proceeds of the offering were $836,700.

The company will pay a finder's fee to Leede Jones Gable Inc. of 7 per cent of the value of the placement, payable in shares for some of the proceeds, for a total of 25,800 common shares. The company will pay a cash finder's fee of $42,978 and 574,200 share purchase warrants (for the purchase of one additional non-flow-through common share at 12 cents for two years from the date of TSX-V approval of the private placement) to PowerOne Capital Markets Ltd.

The proceeds of the flow-through unit offering ($615,150) shall be applied to exploration at the company's British Columbia and Yukon mineral properties and the proceeds of the non-flow-through unit offering ($221,550) shall be applied to one year of administration, mineral property acquisition and property maintenance costs.

About Cariboo Rose Resources

Cariboo Rose Resources is a prospect-generating mineral exploration company with seven gold, copper and molybdenum exploration projects in British Columbia and Yukon.