02:40 PM EST, 12/01/2025 (MT Newswires) -- Cascadia Minerals ( CAMNF ) on Monday said it raised up to $4.1 million through a non-brokered private placement led by strategic investor Michael Gentile, one of the company's largest shareholders.

The company said the offering will consist of the sale of near 6.6-million non-flow-through units (NFT units) at $0.15 per NFT unit, for gross proceeds of about $1 million and near 13.3-million critical minerals flow-through units (CFT units) at $0.233 per CFT unit for about $3.1 million.

"This financing will fully fund a planned 15,000 m diamond drilling program in 2026, which will continue to test expansion of the core Carmacks Deposit, as well as evaluate numerous compelling regional targets," said Cascadia Chief Executive Graham Downs. "In addition, results from a further eight resource expansion holes drilled this fall are still outstanding, seven of which encountered sulphide mineralization."

Each NFT unit will comprise one common share and one-half of one common share purchase warrant and each whole warrant shall be exercisable into one additional common share for 36 months from closing at $0.20 per warrant. Each CFT unit will comprise one flow-through common share and one-half of a Warrant.

The company said a portion of proceeds may be used for exploration at Cascadia's Catch, Macks, Milner, and Idaho Creek properties. The offering is scheduled to close on or before December 22.

Shares of the company were last seen slightly lower at $0.165 on the TSX Venture Exchange.

Price: 0.17, Change: -0.01, Percent Change: -2.94