03:48 PM EDT, 03/19/2024 (MT Newswires) -- Cascadia Minerals ( CAMNF ) on Tuesday said it is raising up to C$1 million in a private placement of flow-through and common share units.

The company said the common share units are priced at C$0.18 and made up of a share and a two-year warrant to buy a second share for C$0.28, while the flow-through units are priced at C$0.20 and made up of a tax-advantaged share and a two-year warrant to buy a common share for C$0.30.

It did not detail how many of each type of unit it expects to place.

"The proceeds from the sale of the FT Units will be used for "Canadian critical minerals exploration expenses" at Cascadia's Catch, Mack's Copper, Milner, Idaho Creek and Sands of Time Properties in Yukon , and the PIL Property in British Columbia," the company noted, while proceeds from the common-share units will be used for working capital.

Cascadia shares were last seen up C$0.01 to C$0.20 on the TSX Venture Exchange.

Price: 0.20, Change: +0.01, Percent Change: +5.26