22:34:48 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Kutcho Copper Corp
Symbol KC
Shares Issued 47,897,628
Close 2018-07-19 C$ 0.38
Market Cap C$ 18,201,099
Recent Sedar Documents

Kutcho Copper arranges $4-million offering

2018-07-19 19:19 ET - News Release

Mr. Vince Sorace reports

KUTCHO COPPER ANNOUNCES C$4 MILLION FLOW-THROUGH FINANCING

Kutcho Copper Corp. has filed and received a receipt for a preliminary short-form prospectus in connection with a proposed offering of flow-through shares to raise up to $4,005,000 at a price of 45 cents per FT share. The offering will be conducted on a best efforts agency basis and is led by Haywood Securities Inc., on behalf of a syndicate of agents.

The proceeds from the offering will be used to incur Canadian exploration expenditures (CEE) that qualify as "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the company's Kutcho high-grade copper-zinc project located in British Columbia. The qualifying expenditures will be renounced to the purchasers with an effective date no later than Dec. 31, 2018, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issuance of the FT shares.

The company's drilling program at Kutcho commenced in June with two drill rigs. The summer program will consist of a combination of geotechnical, metallurgical and resource expansion drilling. The focus of resource expansion drilling will be on the Main lens, where the highest-grade and thickest portions of the inferred category of resources exist. Approximately 12,000 metres of drilling are planned for the 2018 field season, which is expected to be completed by mid-October.

Closing of the offering is expected to occur on or about Aug. 9, 2018 and is subject to certain customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange. In addition, the company has granted the agents an option, exercisable in whole or in part by giving notice to the company at any time up to 48 hours prior to the closing date, to sell up to an additional 1,335,000 FT shares. The offering is being made pursuant to a short-form prospectus to be filed in British Columbia, Alberta and Ontario.

Qualified person

Rory Kutluoglu, BSc, PGeo, a qualified person as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release. Mr. Kutluoglu is the company's vice-president, exploration.

About Kutcho Copper Corp.

Kutcho Copper is a Canadian resource development company focused on expanding and developing the Kutcho high-grade copper-zinc project in Northern British Columbia. Committed to social responsibility and the highest environmental standards, the company intends to progress the Kutcho project through feasibility and permitting to a positive construction decision.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.