Mr. Elmer Stewart reports
COPPER FOX ANNOUNCES A $2,500,000 PRIVATE PLACEMENT UNIT OFFERING, INSIDER COMMITS TO 100% PARTICIPATION
Copper Fox Metals Inc., subject to the approval of the TSX Venture
Exchange, intends to complete a non-brokered private
placement to raise up to $2.5-million. The offering
is expected to consist of 3,164,557 units at a purchase price of 79 cents
per unit, for aggregate gross proceeds of $2.5-million. Each unit
consists of one common share and one common share purchase warrant of
Copper Fox. Each warrant entitles the holder thereof to acquire one
common share of Copper Fox at an exercise price of $1 prior to 5
p.m. on the one-year anniversary of closing of the offering.
Ernesto Echavarria, a director, insider and control person of
Copper Fox, as defined by the policies of the TSX Venture Exchange, has
committed to 100-per-cent participation of this offering.
Moneys raised from the offering will be used to finance costs associated
with the environmental assessment application, development expenses of
the company's Schaft Creek and Arizona projects, and general operating
We seek Safe Harbor.
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