Dr. Harlan Meade reports
COPPER NORTH CORRECTS FLOW-THROUGH PRIVATE PLACEMENT NEWS RELEASE
Copper North Mining Corp. is correcting a news release for a private placement. The previously announced private placement of Dec. 6, 2017, is replaced by a new private placement, originally news released Jan. 2, 2018, raising gross proceeds of $74,970 through the issuance of 882,000 flow-through common shares at a price of 8.5 cents per share.
The gross proceeds from the private placement will be used on qualifying Canadian exploration expenses (as defined in the Income Tax Act (Canada)) related to the company's Carmacks copper-gold project. The shares are subject to a hold period and may not be traded until April 30, 2018, except as permitted by applicable securities legislation, and the rules and policies of the TSX Venture Exchange.
In consideration of arranging the private placement, the company paid finders' fees of $5,247.90 in cash and non-transferable finders' warrants to purchase up to 61,740 non-flow-through common shares at a price of 12 cents per share and exercisable until Jan. 3, 2020. The shares issuable upon exercise of the finders' warrants are subject to a hold period and may not be traded until May 4, 2018, except as permitted by applicable securities legislation, and the rules and policies of the TSX Venture Exchange.
About Copper North Mining Corp.
Copper North is a Canadian mineral exploration and development company. Its assets include the Carmacks project located in the Yukon, the Redstone property located in the Northwest Territories and the Thor property in British Columbia.
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