TSX-V:COL   Last  $0.08 Change  0 Volume  43525

News

News Releases

 
Jul 21, 2017

Copper North Announces AMENDED PRIVATE PLACEMENT TERMS

July 21, 2017 - Vancouver, British Columbia -- Copper North Mining Corp. ("Copper North" or the "Company") (TSX.V:COL) announces that it has revised the terms of the non-brokered private placement as previously announced by a news release dated June 13, 2017.

The Company shall offer a non-brokered private placement of 25,000,000 Common Shares at a price of $0.06 per share and 4,000,000 flow through shares ("Flow-Through Shares") at a price of $0.10 per Common to raise gross proceeds of up to $1,900,000.

The gross proceeds from the issue of the flow through shares (as defined in the Income Tax Act (Canada)) (the "Tax Act") included in the Flow Through Shares will be used on a qualifying "flow-through mining expenditure" (as defined in Tax Act) related to the Company's exploration project. The Company intends to renounce Canadian Exploration Expenses (as defined in the Tax Act) with an effective date of no later than December 31, 2017.

The net proceeds of the flow-through shares of the Offering will be used for the drilling, exploration and development activities of the Company's Carmacks project. The net proceeds of the common share units will be used for general working capital purposes.

Closing of the Offering is anticipated to occur on or before August 15, 2017 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. All securities will be subject to a four month hold.

The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

About Copper North

Copper North is a Canadian mineral exploration and development company. Its assets include the Carmacks Project located in the Yukon, the Redstone Property located in the Northwest Territories, and the Thor Property in British Columbia. Copper North trades on the TSX Venture Exchange under the symbol COL.

On behalf of the Board of Directors:
Dr. Harlan Meade
President, CEO and Director

For Further Information
Dr. Harlan Meade
President and Chief Executive Officer
Tel: 604.398.3451
Email: info@coppernorthmining.com
Web: www.coppernorthmining.com
 
 

You can view the Next News Releases item: Tue Aug 1, 2017, Copper North Closes First Tranche of Non-Brokered Private Placement Offering

You can view the Previous News Releases item: Tue Jun 13, 2017, Copper North Announces $800,000 Non-Brokered Private Placement Offering

You can return to the main News Releases page, or press the Back button on your browser.