Alpha Copper (ALCU-Cse) Closes $7.577 Million PP
Feb 25, '22 - NR
Alpha Copper Corp. has closed its non-brokered private placement of 2,011,037 flow-through (FT) units of the company at 65 cents per FT unit and 12,540,186 non-flow-through (NFT) units of the company at 50 cents per NFT unit, for aggregate gross proceeds of $7,577,267.05.
Each FT Unit is composed of one common share of the Company (each, a Common Share ), issued on a flow-through basis pursuant the Income Tax Act (Canada) (the ITA ), and one common share purchase warrant (each, a "Warrant"). Each Warrant will be exercisable at $1.00 per share for a period of two years from the date of issuance. Each NFT Unit is composed of one common share and one Warrant. All securities issued under the Private Placement are subject to a four-month and one-day statutory hold period.
The Company paid finder s fees in the amount of $204,371.54 and issued 394,775 Warrants to licensed brokers and consultants in association with the Private Placement. The Company intends to use the net proceeds of the Private Placement to incur eligible Canadian exploration expenses, within the meaning of the ITA, for general administrative and working capital purposes and to evaluate and pursue new business opportunities.
The Company also announces it has retained Round Table Marketing Group Inc. ( Round Table ) to provide the Company with marketing services to communicate to the US financial community information about the Company pursuant to an agreement dated effective February 15, 2022 (the Agreement ). The Agreement carries an initial three-month term ( Initial Term ).
Under the terms of the Agreement, the Company will pay Round Table $5,000 per month for the Initial Term and $5,000 per month for any month subsequent to the Initial Term.
ON BEHALF OF THE BOARD OF DIRECTORS
“Darryl Jones”
Darryl Jones
Director
604-788-9533
Further information about the Company is available under its profile on the SEDAR website, www.sedar.com. |
