Cancor Mines entered into an agreement with IBK Capital to raise up to Can$4 million by way of a private placement of 16 million units at a price of Can$0.25 per unit. Proceeds will be used for a Can$2.5 million exploration and drilling program on the Kistabiche property and a Can$1,000,000 exploration and drilling program on the Gemini Turgeon and Allard properties, as well as for general corporate purposes.
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