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Copper North Mining Corp. (TSXV:COL) announced that it is amending certain terms of the proposed non-brokered private placement announced on May 16, 2016.
Copper North Mining Corp. (TSXV:COL) announced that it is amending certain terms of the proposed non-brokered private placement announced on May 16, 2016.
As quoted in the press release:
Subject to TSX Venture Exchange approval, the Company plans to raise up to $511,000 (previously $528,000) through the sale of up to 2.5 million units (the “Units”) at a price of $0.15 per Unit (previously 1.2 million Units at $0.22 per Unit) and up to 800,000 flow-through shares (the “FT Shares”) at a price of $0.17 per FT Share (previously 1.1 million FT Shares at $0.24 per FT Share).
The Company intends to use the proceeds from the sale of FT Shares for exploration at the Thor property and plans to use the proceeds from the sale of Units toward completion of an updated Preliminary Economic Assessment on the Carmacks Project, as well as working capital and general corporate purposes.
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