TSXV Trading Symbol: CPV
VANCOUVER, Oct. 4 /PRNewswire-FirstCall/ - Copper Creek Gold
Corp. (the "Company" or "Copper Creek", TSX.V: CPV) is pleased to
announce a non-brokered private placement financing to raise gross
proceeds of up to $990,000 (the
"Private Placement"). The Private Placement will consist of two
parts:
1. An aggregate of up to $490,000 through the issuance of up to
2,800,000 units ("NFT Units") at a price of $0.175 per NFT Unit, each
NFT Unit consisting of one non-flow-through common share and one non-
transferable share purchase warrant ("NFT Warrant"). Each NFT Warrant
will entitle the holder to purchase one additional non-flow-through
common share in the capital of the Company for a period of twelve
months from the date of issuance of the NFT Units, at an exercise
price of $0.20 per share.
2. An aggregate of up to $500,000 through the issuance of up to
2,500,000 units ("FT Units") at a price of $0.20 per FT Unit, each FT
Unit consisting of one flow-through common share and one non-
transferable share purchase warrant ("FT Warrant"). Each FT Warrant
will entitle the holder to purchase one additional non-flow-through
common share in the capital of the Company for a period of twelve
months from the date of issuance of the FT Units, at an exercise
price of $0.25 per share.
The Company may pay finder's fees to arm's length parties
("Finders") in connection with the Private Placement, equal to 8%
of the subscription proceeds realized from the sale of the Units by
the respective Finder, payable in either cash or, at the discretion
of the Company, that number of units ("Finder's Units") as is equal
up to 8% of the number of Units sold. The Finder's Units will
consist of one common share and one non-transferable share purchase
warrant, each warrant entitling the holder to purchase one
additional common share for a period of twelve months at an
exercise price equal to that of the respective NFT or FT Units sold
by the Finder.
Certain directors, officers and insiders of the Company may
participate in the Private Placement. The securities issued will be
subject to a hold period of four months and one day.
In connection with the Private Placement, Bing Jung, the
Company's Chief Executive Officer, and James Anderson, President of the Company, have
sold an aggregate of 2,500,000 common shares of the Company through
the facilities of the TSX Venture Exchange and will be
participating in the Private Placement for up to 3,000,000
units.
Proceeds of the Private Placement will be used for the
exploration of the Company's Bonsai Group of Claims located in the
Eskay Creek area of northwestern British
Columbia and for general working capital. Proceeds from the
sale of FT Units will be used to incur expenditures which qualify
as Canadian exploration expenses while proceeds from the sale of
NFT Units will be used for both exploration expenses and general
working capital.
The Private Placement will be subject to approval by the TSX
Venture Exchange.
About Copper Creek
Copper Creek Gold Corp. is a Canadian based mineral exploration
and development company currently operating in the Eskay Creek area
of British Columbia. The Company
also retains certain oil and gas assets in Alberta.
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada
(IIROC) accepts responsibility for the adequacy or accuracy of this
release.
This news release includes certain forward-looking statements or
information. All statements other than statements of historical
fact included in this release, including, without limitation,
statements regarding future plans and objectives of Copper Creek
are forward looking-statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from Copper Creek's plans or expectations include
availability of capital and financing, general economic, market or
business conditions, regulatory changes, timelines of government or
regulatory approvals and other risks inherent in the oil and gas
and mineral exploration industries and from the time to time in the
filings made by Copper Creek. Copper Creek makes all reasonable
efforts to update its corporate material, documentation and
forward-looking information on a timely basis.
SOURCE Copper Creek Gold Corp.
Copyright t. 4 PR Newswire