Copper North Closes Final Tranche of Its Non-Brokered Private Placement Offering

Copper North Mining Corp. (“Copper North” or the “Company”) (TSXV:COL) announces that further to its news release dated August 22, 2017, the Company has closed a fourth and final tranche of its non-brokered private placement. The fourth tranche closing consisted of the issuance of 10,902,834 Common Shares at $0.06 per share for gross proceeds of $654,170. All securities issued are subject to a statutory hold period of four months and 1 day expiring on January 15, 2018.
The Company raised in total gross proceeds of $2,513,170 and sold a total of 41,819,501 Common Shares. The net proceeds from the sale of the Offering will be used for general working capital and corporate purposes. The Company incurred finders’ fees totaling an aggregate of $120,803.20.
Harlan Meade, the President of the Company purchased 1,666,667 Shares and Mr. Doug Ramsey, Vice President, Sustainability and Environmental Affairs purchased 1,666,667 shares for gross proceeds of $200,000. Their participation is considered to be a “related party transaction” within the meaning of the TSXV Policy 5.9 and Multilateral Instrument 61-101 (“MI 61-101”). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI-61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such participation as nether the fair market value of the shares issued to, nor the consideration paid by, such persons exceeds 25% of the Company’s market capitalization.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities described herein in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been and will not registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
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
Click here to connect with Copper North Mining (TSXV:COL) to receive an Investor Presentation.

Source: www.coppernorthmining.com