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Dec 20, 2012

Copper North Announces Closing Of Private Placement

Vancouver, British Columbia - Copper North Mining Corp. ("Copper North" or the "Company") (TSX.V: COL) announces that it has closed a non-brokered private placement, which included certain insiders of the Company, of 5,169,000 units of the Company (the "Units") at a price of $0.15 per Unit for aggregate gross proceeds of $775,350 (the "Private Placement").

Each Unit consists of one common share in the capital of the Company (a "Share") and one-half of a non-transferable common share purchase warrant (each whole such warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional Share at a price of $0.20. The Warrants expire on December 20, 2014.

Should the volume-weighted average trading price of the Shares equal or exceed $0.30 over a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants to the day which is 30 days after the notice of acceleration has been sent to the holders of the Warrants.

In connection with the closing of the Private Placement, the Company has agreed to pay Crimson Capital of Zurich, Switzerland a 5% finder's fee of $3,225 for their efforts in sourcing certain participants for the Private Placement.

The Private Placement is subject to final acceptance by the TSX Venture Exchange. All securities issued and issuable as part of the Private Placement are subject to a hold period of four (4) months and one day and as such may not be traded until April 21, 2013.

About Copper North

Copper North is a Canadian mineral exploration and development company. Copper North's assets include the Carmacks Copper Project located in the Yukon, and the high-grade, stratiform-copper Redstone Property, located in the Northwest Territories. Copper North trades on the TSX Venture Exchange under the symbol COL.

Please visit www.coppernorthmining.com.

On behalf of the Board of Directors:

"Sally L. Eyre"

Dr. Sally L. Eyre
President, CEO and Director


For Further Information:

Peter Oates, Manager, Investor Relations
Tel: 604.638.2505
Email: info@coppernorthmining.com
Web: www.coppernorthmining.com

Renmark Financial Communications
Tel: 514.939.3989
Email: info@renmarkfinancial.com
Web: www.renmarkfinancial.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
 
 

You can view the Next News Releases item: Tue Jan 29, 2013, Copper North and Yukon Energy Corporation Sign Letter of Intent

You can view the Previous News Releases item: Mon Dec 17, 2012, Copper North and Little Salmon Carmacks First Nation Sign Letter of Intent

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