Goldcana plans $1M flow-through private placement for Quebec project

Goldcana Resources Inc. (CSE: GC) (FSE: 2Y9) announced plans for a non-brokered flow-through private placement of up to 2,000,000 common shares at CAD $0.50 per share, targeting gross proceeds of up to CAD $1,000,000.

According to a company press release, proceeds will fund exploration expenditures on the La Sarre Gold Project, located in the Abitibi Greenstone Belt of Québec. The project spans approximately 48,615 hectares across 866 Exclusive Exploration Rights.

The Canadian Securities Exchange has accepted Goldcana's option to acquire up to a 100% interest in the La Sarre project. The company has issued 10,000,000 common shares to the optionors under an option agreement dated August 29, 2026.

Proceeds from the placement will be used to incur Canadian exploration expenses and flow-through critical mineral mining expenditures as defined under the Income Tax Act (Canada).

The company may pay finders' fees to eligible arm's length parties, including a cash commission of up to 7% of gross proceeds and non-transferable finder's warrants equal to up to 7% of Flow-Through Shares sold, exercisable at CAD $0.50 per share for 24 months from issuance.

The placement remains subject to final acceptance by the Canadian Securities Exchange. Securities issued are subject to a statutory hold period under applicable securities laws.

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