Copper North Mining Announces Private Placement

Copper North Mining Corp. (TSXV:COL) announced plans to raise up to $1.3 million through a non-brokered private placement. The company intends to use proceeds from the private placement for completion of a technical review and for exploration of the Carmacks Project and its newly acquired Thor property. It also plans to put proceeds of the offering towards working capital and general corporate purposes.

As quoted in the press release:

The Private Placement will consist of the sale of up to 5 million flow-through shares at a price of $0.06 per share and the sale of up to 16.7 million units (the “Units”) at a price of $0.06 per Unit. Each Unit will consist of one common share of the Company (a “Share”) and one half of one non-transferable warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share at a price of $0.08 until the first anniversary of the closing of the Private Placement and $0.09 from the day following the first anniversary of the Private Placement until expiry. The Warrants will expire 24 months from closing.

Click here to read the Copper North Mining Corp. (TSXV:COL) press release