Copper North Closes $136,000 First Tranche of Financing

Copper North Mining Corp. (TSXV:COL) announced the completion of the first tranche of the non-brokered unit private placement announced on February 2, 2016.
As quoted in the press release:

Under the first tranche of the Private Placement, the Company issued 4,541,667 units (the “Units”) at a price of $0.03 per Unit for aggregate gross proceeds of $136,250 on April 1, 2016. Each Unit consists of one common share of the Company (a “Share”) and one non-transferable warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional Share at a price of $0.05 until April 1, 2018. All Shares, including any Shares issued upon exercise of Warrants are subject to a hold period and as such may not be traded until August 2, 2016.
The Company intends to use the proceeds from the Private Placement toward completion of an updated Preliminary Economic Assessment on the Carmacks Project, and working capital and general corporate purposes.

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