# Canuc closes C$5.988 million private placement for East Sudbury work > Canuc Resources said a placement of 4,990,000 units raised gross proceeds of C$5,988,000. - Canonical URL: https://newsverum.com/en/news/canuc-closes-cad-5-988m-private-placement-east-sudbury-2026 - Publisher: Newsverum - Section: Business - Country: Canada - Published: 2026-10-15T14:33:34+00:00 - Updated: 2026-10-15T14:33:34+00:00 - Event / data period: 2026-10-14 - Other editions: [Türkçe](https://newsverum.com/tr/news/canuc-closes-cad-5-988m-private-placement-east-sudbury-2026.md), [العربية](https://newsverum.com/ar/news/canuc-closes-cad-5-988m-private-placement-east-sudbury-2026.md), [Français](https://newsverum.com/fr/news/canuc-closes-cad-5-988m-private-placement-east-sudbury-2026.md), [Español](https://newsverum.com/es/news/canuc-closes-cad-5-988m-private-placement-east-sudbury-2026.md), [Deutsch](https://newsverum.com/de/news/canuc-closes-cad-5-988m-private-placement-east-sudbury-2026.md), [Português](https://newsverum.com/pt/news/canuc-closes-cad-5-988m-private-placement-east-sudbury-2026.md) Canuc Resources said on 14 October it had closed a private placement of 4,990,000 units at C$1.20 each, raising gross proceeds of C$5,988,000. Each unit comprised one common share and half a warrant. Whole warrants have a C$1.80 exercise price and a term of up to two years. If the 10-day volume-weighted average price exceeds C$2.40, the company may accelerate expiry; unexercised warrants become void 30 days after the trigger date. The company said it would use the proceeds for engineering, mine planning and drilling at its wholly owned East Sudbury Project, as well as studies at its San Javier project in Mexico. East Sudbury work includes engineering to support permitting for a possible bulk sample and gold production near the Timmins Creek Fault, and preparation to drill targets identified using new geophysical data. The release said final closing remains subject to TSX Venture Exchange acceptance. ## Data ### Canuc closes C$5.988 million private placement for East Sudbury work Canuc Resources said a placement of 4,990,000 units raised gross proceeds of C$5,988,000. Methodology: This event and scope are based on the dated source release. | date | label | description | status | |---|---|---|---| | 2026-10-14 | Canuc closes C$5.988 million private placement for East Sudbury work | Canuc Resources said a placement of 4,990,000 units raised gross proceeds of C$5,988,000. | occurred | Sources: · Download data: [JSON](https://newsverum.com/api/v1/articles/canuc-closes-cad-5-988m-private-placement-east-sudbury-2026/data/reported-development?lang=en&format=json) · [CSV](https://newsverum.com/api/v1/articles/canuc-closes-cad-5-988m-private-placement-east-sudbury-2026/data/reported-development?lang=en&format=csv) ### Canuc private placement: proceeds and units Company figures for the private placement closing announced on 14 October 2026. Methodology: C$5,988,000 equals 4,990,000 units at C$1.20 each and is gross, before expenses. Each unit is one share and half a warrant. Whole warrants have a C$1.80 exercise price and a term of up to two years; if 10-day VWAP exceeds C$2.40, the company may trigger early exercise and unexercised warrants lapse 30 days later. | Measure | Reported value | Number of units | |---|---|---| | Gross proceeds | 5988000 | | | Units issued | | 4990000 | Sources: · Download data: [JSON](https://newsverum.com/api/v1/articles/canuc-closes-cad-5-988m-private-placement-east-sudbury-2026/data/financing-terms-table?lang=en&format=json) · [CSV](https://newsverum.com/api/v1/articles/canuc-closes-cad-5-988m-private-placement-east-sudbury-2026/data/financing-terms-table?lang=en&format=csv) ## Sources - [Canuc Resources Corporation]() (Source checked: 2026-10-15; Published: 2026-10-14) --- Cite the canonical URL above. [Editorial standards and corrections](https://newsverum.com/en/editorial)