Jan 03, 2018
Copper North Corrects Flow-Through Private Placement News Release
January 3, 2018 - Vancouver, British Columbia -- Copper North Mining Corp. ("Copper North" or the "Company") (TSX.V:COL) is correcting a news release for a private placement. The previously announced private placement of December 6, 2017, is replaced by a new private placement, originally news released January 2, 2018, raising gross proceeds of $74,970 through the issuance of 882,000 flow-through common shares at a price of $0.085 per share.
The gross proceeds from the Private Placement will be used on qualifying "Canadian exploration expenses" (as defined in the Income Tax Act (Canada)) related to the Company's Carmacks Copper-Gold Project. The shares are subject to a hold period and may not be traded until April 30, 2018 except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.
In consideration of arranging the private placement, the Company paid finder's fees of $5,247.90 in cash and non-transferable finder's warrants to purchase up to 61,740 non-flow-through common shares at a price of $0.12 per share and exercisable until January 3, 2020. The shares issuable upon exercise of the finder's warrants are subject to a hold period and may not be traded until May 4, 2018 except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.
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
This news release includes certain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the use of proceeds from the Private Placement; and proposed exploration and development activities and their timing. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the timeliness and success of regulatory approvals, the timing and success of future exploration and development activities, exploration and development risks, market prices, exploitation and exploration results, availability of capital and financing, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, unanticipated environmental impacts on operations and other exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that the Private Placement will receive regulatory approval, the proposed exploration and development of the mineral projects will proceed as planned, market fundamentals will result in sustained metals and mineral prices, and any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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: Mon Jan 8, 2018, Copper North Intersects 34.9 m of 0.65% Copper, 0.14 g/t Gold, and 2.47 g/t Silver at Carmacks
You can view the Previous News Releases item: Mon Dec 18, 2017, Copper North Announces Retention of Market Maker
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