Copper North Announces $600,000 Non-Brokered Private Placement Offering

Copper North Mining Corp. (TSXV:COL) has arranged a non-brokered private placement offering to sell up to 2.5 million flow-through shares at a price of 12 cents per common shares and three million common share units at price of 10 cents per common share to raise gross proceeds of up to $600,000.
The gross proceeds from the issue of the flow-through shares (as defined in the Income Tax Act (Canada)) included in the flow-through shares will be used on a qualifying flow-through mining expenditure related to the company’s exploration project. The company intends to renounce Canadian exploration expenses with an effective date of no later than Dec. 31, 2017.
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 15 cents per common share for a period of 36 months following the closing of the offering. Warrants will not be listed for trading.
The net proceeds of the flow-through shares of the offering will be used for the exploration and development activities of the company’s Thor property and the expansion of the Carmacks copper project to prefeasibility level. The net proceeds of the common share units will be used for general working capital purposes.
Closing of the offering is anticipated to occur on or before April 15, 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 period.
About Copper North Mining Corp.
The company’s assets include the Carmacks project located in the Yukon, the Redstone property located in the Northwest Territories and the Thor property in British Columbia.
Connect with Copper North Mining Corp. (TSXV:COL) to receive an Investor Presentation.