Lowell Copper Announces $2.8 Million Private Placement

Lowell Copper (TSXV:JDL) is planning to undertake a non-brokered private placement financing for gross proceeds of approximately $2.8 million. The company also announced that it has appointed Steven Krause as Chief Financial Officer of the company.
As quoted in the press release:

Each Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant (each whole warrant a “Warrant”). Each whole Warrant will entitle the holder thereof to acquire one additional common share of the Company for a period of five (5) years at an exercise price of C$0.20. The Company intends to use the proceeds raised in the Financing to further its projects in Ecuador and Chile as well as for general working capital purposes.

Click here for the full press release.