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    copper-investing

    Copper North Closes $78,000 First Tranche of Placement

    Pia Rivera
    Apr. 13, 2017 10:28PM PST
    Base Metals Investing

    Copper North Mining Corp. (TSX.V:COL) announces that it has closed the first tranche of its previously announced non-brokered private placement offering

    Copper North Mining Corp. (“Copper North” or the “Company”) (TSX.V:COL) announces that it has closed the first tranche of its previously announced non- brokered private placement offering (the “Offering”). The Company raised an aggregate of 700,000 Flow Through Shares at a price of $0.10 per Flow Through Share for gross proceeds of $70,000 and 80,000 non flow through units (“Common Share Units”) at a price of $0.10 per Common Share Unit, for gross proceeds of $8,000.
    Each Flow Through Share consists of one flow-through common share. 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 $0.15 per Common Share for a period of thirty-
    six (36) months following the closing of the Offering.
    All securities issued under the private placement will have a four month statutory hold period expiring on
    August 14, 2017.
    The gross proceeds from the issue of the flow through 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. The Company intends
    to renounce Canadian Exploration Expenses (as defined in the Tax Act) with an effective date of no later
    than December 31, 2017.
    The net proceeds of the Offering will be used for the drilling and engineering of the Company’s Carmacks
    Project, and for general working capital purposes.
    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 state 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 2
    For Further Information
    Dr. Harlan Meade
    President and Chief Executive Officer
    Tel: 604.398.3451
    Email: info@coppernorthmining.com
    Web: www.coppernorthmining.com
    This news release includes certain forward-looking information or forward-looking statements for the
    purposes of applicable securities laws. These statements include, among others, statements with respect
    to the completion of the proposed Private Placement; the price of securities issued pursuant to the Private
    Placement; use of proceeds from the Private Placement; and proposed exploration and development
    activities and their timing. These statements address future events and conditions and, as such, involve
    known and unknown risks, uncertainties and other factors, which may cause the actual results, performance
    or achievements to differ materially from those anticipated in such statements. Important factors that could
    cause actual results to differ materially from the Company’s expectations include, among others, the
    timeliness and success of regulatory approvals, the timing and success of future exploration and
    development activities, exploration and development risks, market prices, exploitation and exploration
    results, availability of capital and financing, general economic, market or business conditions, uninsured
    risks, regulatory changes, defects in title, availability of personnel, materials and equipment, unanticipated
    environmental impacts on operations and other exploration risks detailed herein and from time to time in
    the filings made by the Company with securities regulators. In making the forward-looking statements, the
    Company has applied several material assumptions including, but not limited to, the assumptions that the
    Private Placement will receive regulatory approval and will proceed as planned, the proposed exploration
    and development of the mineral projects will proceed as planned, market fundamentals will result in
    sustained metals and mineral prices, and any additional financing needed will be available on reasonable
    terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking
    statements whether as a result of new information, future events or otherwise except as otherwise required
    by applicable securities legislation.
    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.

    Source: www.stockwatch.com

    copper-north-miningbritish-columbiacanadaboard-of-directorsregulatory-approvalcopper-north-mining-corpprivate-placementnet-proceedscopper-investing
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