New Wisdom Investment Limited

Copper One in C$2.9m Cash Raise

(July 15, 2016)

Copper One, the Canadian company looking to develop the Rivière Doré property near Val d'Or, Quebec, has announced a share placement to raise up to C$2.9 million (US$2.2 million)

The funds would be used to bankroll further exploration and development activities at Rivière Doré and for general corporate purposes.

The move is via a brokered private placement offering of units at a price of C$0.13 per unit for aggregate gross proceeds of up to C$2.6 million. Each unit would consist of one common share and one common share purchase warrant.

Each whole warrant would entitle the holder to acquire one common share at a price of C$0.20 for a period of 24 months following the closing date of the offering.

Lead agent Delano Capital Corp would have the option to increase the proceeds raised under the offering by up to an additional C$390,000 to raise the aggregate gross proceeds up to C$2,9 million.

The company has agreed to pay the agent a cash fee equal to 7% of the gross proceeds from certain subscribers to the offering.

"As additional compensation, the agent will be issued compensation options equal to 7% of the total number of units issued to certain subscribers pursuant to the offering," said Copper One.


mining-journal.com