Cartier Resources Inc. announced a private placement of 14,000,000 units at a price of CAD 0.13 per unit for gross proceeds of CAD 1,820,000 on May 18, 2022. The transaction includes participation from existing investor, Agnico Eagle Mines Limited. Each unit consists of one common share and one half of one common share purchase warrant.

Each warrant entitles the holder to purchase one common share of the company at a price of CAD 0.16 for a period of 36 months from the closing date. The company has received approval from the TSX Venture Exchange with respect to this transaction. The securities to be issued are subject to a hold period of four months.

The transaction is expected to close on May 20, 2022. The transaction is subject to receipt of all necessary regulatory approvals (including approval of the TSX-V), Agnico Eagle completing satisfactory due diligence, and certain other customary closing conditions.