Canoe Mining Ventures Raises CA$9.6 Million to Advance Nevada Project

09:41 AM EDT, 10/21/2026 (MT Newswires) -- Canoe Mining Ventures (CLV.V) raised CA$9.6 million after closing the final tranche of its private placement of subscription receipts, the company said Wednesday. Canoe plans to use the proceeds to advance exploration at the Red Hill project in Nevada, as well as for general working capital. The company is planning to consolidate its shares on a 3.32 to one basis ahead of a reserve takeover by closely held Longview Gold announced in July. Under the offering, Canoe issued a total of about 83.4 million subscription receipts, which convert automatically into one unit. Each unit will consist of a pre-consolidation share and one-half of a warrant. Each warrant can be exercised for CA$0.18 per pre-consolidation share for 36 months. Proceeds will be used for exploration at the Red Hill Project in Nevada and for general working capital.