Goldcana closes C$2M private placement, issues 8M units

Goldcana Resources Inc. (CSE: GC) has closed a non-brokered private placement, raising C$2,000,000 through the issuance of 8,000,000 units at C$0.25 per unit, according to a company statement.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to purchase one additional common share at C$0.50 for 24 months from the closing date.

The warrants include an acceleration provision: if the volume-weighted average trading price of the company's common shares on the Canadian Securities Exchange equals or exceeds C$1.00 for five consecutive trading days after the applicable statutory hold period, the company may accelerate the expiry date. Warrants would then expire on the 15th trading day following the related news release unless exercised beforehand.

The company paid C$76,482 in finder's fees and issued 305,928 finder's warrants, each exercisable at C$0.50 per common share until September 25, 2028. No insiders participated in the offering.

Proceeds are designated for mineral exploration, including work on the La Sarre Gold Project in Quebec's Abitibi Greenstone Belt, as well as general working capital. Goldcana entered an option agreement on August 29, 2026, allowing it to earn up to a 100% interest in the La Sarre project.

The offering remains subject to final acceptance by the Canadian Securities Exchange.

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