05:44:10 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Carube Copper Corp
Symbol CUC
Shares Issued 70,126,581
Close 2017-01-20 C$ 0.075
Market Cap C$ 5,259,494
Recent Sedar Documents

Carube Copper arranges $1.6-million private placement

2017-01-23 11:47 ET - News Release

Mr. Jeff Ackert reports

CARUBE ANNOUNCES PRIVATE PLACEMENT

Subject to TSX Venture Exchange approval, Carube Copper Corp. intends to raise an aggregate of $1.6-million by way of a non-brokered private placement of up to 20 million units of the company at a price of eight cents per unit.

Each unit will comprise one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant shall be exercisable into one common share at a price of 15 cents per common share for a period of two years from the closing date of the offering.

The proceeds of the offering will be used for copper and gold exploration and for general working capital purposes. The actual allocation of net proceeds may vary depending on future operations or unforeseen events or opportunities. The closing of the offering is expected to occur on or before Feb. 3, 2017, or such other date as the company may determine.

Finders who source funds may earn a cash commission of up to 7 per cent of the gross proceeds raised by such finder and may receive warrants entitling the finder to purchase that number of units at eight cents per unit equal to 7 per cent of the number of units sold by such finder.

Existing shareholder exemption

Depending on demand and regulatory requirements, a portion of the offering may be made in accordance with the provisions of the existing shareholder exemption contained in Multilateral CSA notice 45-313 and the various corresponding blanket orders and rules of participating jurisdictions, as well as the amendments to Rule 45-501, Ontario Prospectus and Registration Exemptions, in Ontario. In addition to conducting the offering pursuant to the existing shareholder exemption, it will also be conducted pursuant to the accredited investor and other available prospectus exemptions. The company has set Jan. 20, 2017, as the record date for the purpose of determining existing shareholders entitled to purchase the units pursuant to the existing shareholder exemption.

In the event that subscriptions received for the offering based on available exemptions exceed the maximum unit offering of $1.6-million, the company may seek to increase the size of the offering and obtain exchange approval for such an increase. This offering and the terms and conditions thereof are in lieu of those previously announced by the company on Oct. 31, 2016.

If you are an existing shareholder of the company who held common shares as of the record date and are interested in participating in the offering, you should contact Darrell Munro by e-mail at dmunro@carubecopper.com. It is anticipated that officers and directors of the company may participate in the offering.

Carube Copper is focused on the exploration and development of copper and gold projects in Jamaica and Canada. In Jamaica, Carube Copper holds a 100-per-cent interest in 11 licences totalling over 535 square kilometres. In Canada, Carube Copper holds a 100-per-cent interest in three porphyry copper-gold-molybdenum properties totalling 593 square kilometres within the Tertiary-aged Cascade magmatic arc in southwestern British Columbia.

We seek Safe Harbor.

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