Aug 13, 2018
Copper North Closes Non-Brokered Private Placement
August 13, 2018 - Vancouver, British Columbia -- Copper North Mining Corp. ("Copper North" or the "Company") (TSX.V:COL) announces that further to its news release dated July 30, 2018, the Company has closed its non-brokered private placement. The closing consisted of the issuance of 2,000,000 Common Shares Units at a price of $0.05 per Common Share Unit, for gross proceeds of $100,000.
Each Common Share Unit consists of one common share and one-non-transferable share purchase warrant. Each whole warrant entitles the holder thereof to acquire one Common Share at a price of $0.05 per Common Share for a period of Sixty (60) months following the closing of the Offering.
All securities issued are subject to a statutory hold period of four months expiring on December 8, 2018.
The net proceeds from the sale of the Offering will be used for general working capital and corporate purposes. The Company incurred finders' fees totaling an aggregate of $5,000.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities described herein in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been and will not registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
About Copper North
Copper North is a Canadian mineral exploration and development company. Its assets include the Carmacks Project located in Yukon and the Redstone Property located in Northwest Territories. 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 completion of the Private Placement; the price of securities issued pursuant to the Private Placement; use of proceeds from the Private Placement; and 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 and will proceed as planned, the 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.
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