Canyon Copper Announces Increase to Previously Announced Private Placement Financing

Canyon Copper Corp. (TSXV:CNC)   announced today that, it has increased its previously announced private placement financing (see news release dated August 22, 2017) up to 15,000,000 Units (the “Units”) at a price of $0.10 per unit (the “Offering”) for total gross proceeds of up to $1,500,000.
As previously disclosed, each Unit will consist of one common share and one-half of one share purchase warrant.  Each warrant will entitle the holder to purchase one common share at $0.15 per share until the close of business on the day which is 24 months from the date of issue of the warrant.  Canyon intends to use the proceeds of the Offering to fund exploration expenditures on its portfolio of mineral properties and for general working capital.
Closing of the proposed Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval from the TSX Venture Exchange. Finders fees may be payable in connection with this private placement. All the securities issuable will be subject to a four-month hold period from the date of closing.
On behalf of the Board of Directors,
“Stephen Wallace”
CANYON COPPER CORP.
Stephen Wallace, President, CEO and Director
 

Cautionary Statement Regarding Forward Looking Information
 
This News Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified by their use of terms and phases such as “believe,” “expect,” “plan,” “anticipate” and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Canyon’s expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following, Canyon’s ability to implement its proposed drill programs on the Bootleg Project, Canyon’s ability to obtain additional financing, uncertainty of estimates of mineralized material and other factors which may cause the actual results, performance or achievements of Canyon to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
 
Cautionary Note to U.S. Investors Regarding Estimates of Measured, Indicated and Inferred Resources
 
This News Release may use the terms “measured”, “indicated” and “inferred” “resources.”  We advise U.S. investors that while these terms are recognized and required by Canadian regulations, the SEC does not recognize them.  “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility.  It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category.  Under Canadian rules, estates of “inferred mineral resources” may not form the basis of a feasibility study or prefeasibility studies, except in rare cases.  The SEC normally only permits issuers to report mineralization that does not constitute “reserves” as in-place tonnage and grade, without reference to unit measures.  U.S. investors are cautioned not to assume that any part or all of a measured, indicated or inferred resource exists or is economically or legally mineable.
 
NEITHER 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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Source: fscwire.com