Copper North increases private placement to $2.5M

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Copper North Mining Corp. (“Copper North” or the “Company”) (TSXV:COL) is pleased to announce that as a result of positive investor response to its previously announced non-brokered private placement (the “Offering”), as disclosed in a news release dated July 21, 2017. The Company has increased the size of the Offering from $1,900,000 to $2,500,000. Under …

Copper North Mining Corp. (“Copper North” or the “Company”) (TSXV:COL) is pleased to announce that as a result of positive investor response to its previously announced non-brokered private placement (the “Offering”), as disclosed in a news release dated July 21, 2017. The Company has increased the size of the Offering from $1,900,000 to $2,500,000. Under the increased Offering, the Company may issue up to 1,000,000 flow through shares (“Flow-Through Shares”) at a price of $0.10 per Common Share and 40,000,000 Common Shares at price of $0.06 per Common Share to raise gross proceeds of up to $2,500,000.
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 shares will be used for general working capital purposes.
In connection with the Offering, the Company has agreed to pay finder’s fees.
Closing of the Offering is anticipated to occur on or before August 31, 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 net proceeds from the Offering will be used for general working capital and corporate purposes.
The Company also reports that it has closed for gross proceeds of $835,000, the second tranche of the Offering. The Company issued 13,916,667 Common Shares pursuant to the Offering at a price of $0.06 per Common Share. . All securities issued pursuant to the Offering are subject to a statutory hold period of four months and 1 day, expiring on December 11, 2017.
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
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 proposed Private Placement; the price of securities issued pursuant to the Private Placement; 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 and will proceed as planned, 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.
Click here to connect with Copper North Mining (TSXV:COL) to receive an Investor Presentation.

Source: www.coppernorthmining.com

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