Mr. Stephen Masson reports
COPPER REEF ANNOUNCES INCREASE OF PRIVATE PLACEMENT FINANCING TO $700,000
Copper Reef Mining Corp. has increased its previously announced non-brokered private placement financing (see news release dated Sept. 16, 2019) to raise up to a maximum of $700,000 through the sale of up to 35 million Class A units at a price of two cents per unit. Each unit shall comprise one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of five cents per share for a period of 12 months from the date of issue of the warrants.
The offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals. All securities to be issued under the offering will be subject to a four-month statutory hold period in Canada.
The proceeds from the offering will be used to advance exploration drill targets in Manitoba and Saskatchewan, and for general working capital purposes.
About Copper Reef Mining Corp.
Copper Reef is a Canadian mineral exploration company with a specific focus on mineral properties within the Flin Flon greenstone belt of northwestern Manitoba and northeastern Saskatchewan, Canada. The company has assembled a portfolio of base metal and precious metal prospects, including strategic locations in the provinces of Manitoba and Saskatchewan. The company holds royalties on Foran Mining's large Hanson Lake property, which hosts the large polymetallic zinc-copper-silver-gold McIlvenna deposit and its Bigstone and Balsam deposits.
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