Copper North Mining Corp. (“Copper North” or the “Company”) (TSXV:COL) announces that further to its news release dated December 6, 2017 and January 3, 2018, it has the closed the previously announced non-brokered private placement (the “Private
Placement”) for gross proceeds of $74,970.
The Company has issued 882,000 Flow Through Shares at a price of $0.085 per share.
In consideration of arranging the private placement, the Company paid finder’s fees of $5,247.90 in cash and non-transferable finder’s warrants to purchase up to 61,740 non -flow-through common shares at a price of $0.12 per share and exercisable until January 3, 2020. The shares issuable upon exercise of the finder’s warrants are subject to a hold period and may not be traded until May 10, 2018 except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.
The gross proceeds from the issue of the flow shares (as defined in the Income Tax Act (Canada)) (the “Tax Act”) included in the Flow Through Shares will be used on a qualifying “flow -through mining expenditure” (as defined in Tax Act) related to the Company’s exploration project.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any stat e securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable securities laws or an exemption from such registration is available
About Copper North
Copper North is a Canadian mineral exploration and development company. Its assets include the Carmacks Project located in the Yukon, the Redstone Property located in the Northwest Territories, and the Thor Property in British Columbia. Copper North trades on the TSX Venture Exchange under the symbol COL.
On behalf of the Board of Directors:
Dr. Harlan Meade
President, CEO and Director
For Further Information
Dr. Harlan Meade
President and Chief Executive Officer
Tel: 604.398.3451
Email: info@coppernorthmining.com
Web: www.coppernorthmining.com
Neither the 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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