Copper One (CUO-V) July 14, '15 is pleased to announce a brokered private placement offering of units at a price of $0.13 per Unit for aggregate gross proceeds of up to $2.6 million. Each Unit will consist of one common share of the Company and one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to acquire one common share of the Company at a price of $0.20 for a period of 24 months following the closing date of the Offering.
The Offering
The Company has engaged Delano Capital Corp. (the "Agent") as lead agent for the Offering on a "best efforts" basis and the Offering is expected to close on or about July 29, 2016 (the "Closing Date").
Prior to the Closing Date, the Agent will have the option to increase the proceeds raised under the Offering by up to an additional $390,000 to raise the aggregate gross proceeds up to $2,990,000.
The Company has agreed to pay the Agent a cash fee equal to 7% of the gross proceeds from certain subscribers to the Offering. As additional compensation, the Agent will be issued compensation options (the "Broker Options") equal to 7% of the total number of Units issued by the Company to certain subscribers pursuant to the Offering. Each Broker Option will be exercisable at a price of $0.13 per Broker Option into one common share of the Company and one Warrant (a "Broker Warrant") for a period of 24 months following the closing date of the Offering. Each whole Broker Warrant shall entitle the holder to acquire one additional common share of the Company at a price of $0.20 for a period of 24 months following the closing date of the Offering.
The Company will use the net proceeds from the Offering to fund further exploration and development activities at the Company's Rivière Doré project in Quebec and for general corporate purposes.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities. All securities issued pursuant to the Offering will be subject to a four month and one day hold period.
Corporate Update
The Company is also pleased to announce the appointment of Paul Pint to its board of directors. Mr. Pint is the President of Sulliden Mining Capital Inc. and has over 20 years of capital markets experience. Mr. Pint began his capital markets career on the institutional equity team at a large Canadian financial institution. Over his career, he has held a number of senior positions at various financial institutions and boutique investment banks in Canada. Mr. Pint is a Chartered Professional Accountant and holds a Bachelor of Commerce degree from the University of Toronto.
About Copper One
Copper One is focused on developing the Rivière Doré property located near Val d'Or, Quebec covering the base of the Bouchette anorthositic complex which spans over 80 km.
Copper One Inc.
G Scott Moore
Chairman, President and CEO
smoore@forbesmanhattan.com |
