Copper North closes first tranche of non-brokered private placement offering
2017-04-21 15:20:23 【Print】
BEIJING (Asian Metal) 21 Apr 17 - Copper North Mining Corp
Each Flow Through Share consists of one flow-through common share . Each Common Share Unit consists of one common share and one non-transferable share purchase warrant . Each whole warrant entitles the holder thereof to acquire one Common Share at a price of $0 . 15 per Common Share for a period of thirty-six months following the closing of the Offering.
All securities issued under the private placement will have a four month statutory hold period expiring on August 14, 2017.
The gross proceeds from the issue of the flow through shares will be used on a qualifying "flow-through mining expenditure" related to the Company's exploration project . The Company intends to renounce Canadian Exploration Expenses with an effective date of no later than December 31, 2017.
The net proceeds of the Offering will be used for the drilling and engineering of the Company's Carmacks Project, and for general working capital purposes.
. ("Copper North" or the "Company") announced that it has closed the first tranche of its previously announced non-brokered private placement offering (the "Offering") . The Company raised an aggregate of 700,000 Flow Through Shares at a price of $0 . 10 per Flow Through Share for gross proceeds of $70,000 and 80,000 non flow through units ("Common Share Units") at a price of $0 . 10 per Common Share Unit, for gross proceeds of $8,000.
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