Canadian Gold Miner Completes Financing and Provides Update on Plans for 2021

Sudbury, February 2, 2021 – Canadian Gold Miner Corp (“CGM”, or “the Company”) is pleased to announce that it has completed a financing by way of private placement, which closed on December 22, 2020.

 

CGM President & CEO Greg Collins commented, “As the second largest land holder in the prolific Kirkland Lake mining camp, Canadian Gold Miner enters 2021 with working capital of approximately $2 million. With the addition of key personnel to the exploration and corporate development team, together with the recently closed financing, the company is now well positioned to resume exploration activities at its flagship Lincoln-Nipissing property and move towards a public listing in H1 2021."

 

Details of Financing

 

Pursuant to the Offering, 10,978,750 common shares were issued for proceeds of $878,300 of which approximately $331,300 was rolled over to settle outstanding debts to management and vendors. In addition, 14,361,700 flow through eligible common shares were issued for proceeds of $1,412,424. Finders fees paid in connection with the Offering totaled $31,585. Canadian Gold Miner’s capital structure now consists of 66,060,548 issued and outstanding shares or 71,120,148 on a fully diluted basis.

 

Use of Proceeds

 

CGM has engaged the services of CXS Ltd. to complete a line-cutting and IP survey program over its 4 Corners and Lafond area targets. The objective of the survey work is to further outline the scale of the identified gold systems in preparation for drilling. The survey once completed will cover approximately 95 line kilometers of cut grid.

 

About Canadian Gold Miner

 

Canadian Gold Miner Corp. is a Canadian private corporation that controls the 2nd largest property package in the Kirkland Lake Gold Camp. The Company’s primary focus is on advancing its South Kirkland Project which encompasses the Lincoln-Nipissing Shear Zone (LNSZ). Like the well-endowed Cadillac-Larder Lake Break, LNSZ is a major deep rooted structure that has similar host rocks, timing of mineralization and geochemistry with the gold mineralization identified along the main trend. Canadian Gold Miner has near complete control of this major shear zone (LNSZ). Additional information regarding the Company and its projects can be found at www.canadiangoldminer.com.