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Superior Copper Announces $2.25 Million Best Efforts Non-Brokered Private Placement
Jul. 14, 2014 11:49AM PST
Base Metals Investing Superior Copper Corporation (TSXV:SPC) plans to complete a best efforts non-brokered private placement financing of hard dollar units at a price of $0.15 per HD Unit, and flow-through common shares priced at $0.15 per FT Share, for gross proceeds of up to $2,250,000. Proceeds from the offering will be used for general working capital and to further develop and explore the Superior Project, Batchawana Bay, Ontario. Superior Copper expects that a second drill rig will be active on the property as soon as possible.
Superior Copper Corporation (TSXV:SPC) plans to complete a best efforts non-brokered private placement financing of hard dollar units at a price of $0.15 per HD Unit, and flow-through common shares priced at $0.15 per FT Share, for gross proceeds of up to $2,250,000. Proceeds from the offering will be used for general working capital and to further develop and explore the Superior Project, Batchawana Bay, Ontario. Superior Copper expects that a second drill rig will be active on the property as soon as possible.
As quoted in the press release:
Each HD Unit will be comprised of one common share (“Common Share”) and one-half common share purchase warrant (“HD Warrant”), with each HD Warrant being exercisable for one common share of the Corporation at an exercise price of $0.20 for a period of 24 months following the closing date of the Offering. The securities issued pursuant to the Offering will be subject to a statutory four month and one day hold period.
Click here to read the Superior Copper Corporation (TSXV:SPC) press release