Canyon Copper Completes Brokered Private Placement And Final Tranche Of Non-brokered Private Placement
Canyon Copper Corp. (OTCBB:CNYC) reports that it has completed its brokered private placement
The press release is quoted as saying:
Each unit consists of one share of Canyon’s common stock and one-half of one non-transferable share purchase warrant, with each whole warrant entitling the holder to purchase an additional share of Canyon at a price of CDN $0.50 per share until January 13, 2013, in respect of the Brokered Private Placement, and January 8, 2013, in respect of the Non-Brokered Private Placement. Subject to the terms and conditions of the warrants, Canyon may accelerate the expiry date of the warrants if Canyon’s shares close at a price equal to or greater than CDN $0.60 for 10 consecutive trading days. If Canyon elects to exercise its accelerated expiry date, the accelerated expiry date will be 30 days after Canyon sends out the notice of acceleration.