(TheNewswire)
Vancouver, British Columbia May 23, 2017 / TheNewswire - Cache Exploration Inc. (the "Company", or "Cache"), (TSX-V:CAY) announces a non-brokered private placement (the "Private Placement") to sell up to 6,000,000 units at a price of $0.25 per unit (the "Units") for gross proceeds of up to $1,500,000 (the "Offering"). Each Unit consists of one common share (a "Unit Share") and one half common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one half additional common share (a "Warrant Share") at an exercise price of $0.35 per Warrant Share. The Warrant Share is exercisable for the first two years from the date of issue of the Warrant. All of the securities issued are subject to a four month hold period, and may be subject to certain escrow provisions as required by the regulatory authorities and the TSX Venture Exchange. Finder's fees of 8% cash and 8% finder warrants may be payable in connection with this transaction.
The proceeds of the Private Placement will be primarily dedicated to funding the Company's summer drill program at its Kiyuk Lake Property in Nunavut.
About Cache Exploration
Cache Exploration is focused on its Kiyuk Lake Property in Nunavut.
Kiyuk Lake Property Highlights
-A true district play covering a majority proportion of the Proterozoic Kiyuk Basin
-12,000 meter drill database: 2008-2013
-Gold Showings over a 15 Km Strike Length
-Multiple Gold Intercepts over 1g/t
-Four Discrete Mineralized Zones (Rusty, Gold Point, Cobalt, Amundsen)
-Significant expansion possible with five new target areas identified and ready for drilling
-Sites are drill ready with fuel, drills and 35-man camp on site and ready for spring drilling
For more information about Cache Exploration, please visit: www.cacheexploration.com
"Jack Bal"
Jack Bal
Chief Executive Officer
FOR MORE INFORMATION, PLEASE CONTACT:
Jack Bal
604-306-5285
jackbal@cacheexploration.com
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LOOKING STATEMENTS: This news
release contains certain forward-looking statements within the meaning
of Canadian securities laws, including statements regarding the Kiyuk
Lake Property: statements pertaining to the ability of Cache
Exploration Inc.("CAY"); the potential to develop resources and
then further develop reserves; the anticipated economic potential of
the property; the availability of capital and finance for CAY to
execute its strategy going forward. Forward-looking statements are
based on estimates and assumptions made by CAY in light of its
experience and perception of current and expected future developments,
as well as other factors that CAY believes are appropriate in the
circumstances. Many factors could cause CAY's results, performance
or achievements to differ materially from those expressed or implied
by the forward looking statements, including: discrepancies between
actual and estimated results from exploration and development and
operating risks, dependence on early exploration stage concessions;
uninsurable risks; competition; regulatory restrictions, including
environmental regulatory restrictions and liability; currency
fluctuations; defective title to mineral claims or property and
dependence on key employees. Forward-looking statements are based on
the expectations and opinions of the Company's management on the
date the statements are made. The assumptions used in the preparation
of such statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements. The Company
expressly disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new information,
future events or otherwise.
The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release
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