Canadian Gold Corp. announced a non-brokered private placement of flow-through common shares at a price of CAD 0.23 per share, and non-flow through units at a price of CAD 0.14 per unit for aggregate gross proceeds of CAD 2,225,000 on October 18, 2023. Each non-flow through unit shall consist of one common share and one share purchase warrant exercisable at CAD 0.215 per share for 18 months.

The transaction will include participation from Rob McEwen for units for CAD 500,000. The transaction is subject to receipt of approval by the TSX Venture Exchange and any of other regulator having jurisdiction. The securities issued upon the closing of the transaction will be subject to a four month hold period from the date of issue, including any other re-sale restrictions imposed by applicable securities regulatory authorities.

The company may pay a finder's fee equal to 6% of the gross proceeds. The transaction is expected to close on or around October 31, 2023.