NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
Copper North Announces $600,000 Non-Brokered Private Placement Offering
November 15, 2018 – Vancouver, British Columbia – Copper North Mining Corp. (“Copper North” or the “Company”) (TSX.V:COL) announces that it plans to raise up to $600,000 by way of a non-brokered private placement (the “Private Placement”).
The Private Placement will consist of the sale of up to 10,909,091 units (the “Units”) at a price of $0.055 per Unit, each Unit consisting of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share at a price of $0.10 for a period of 36 months from closing. If, commencing on the date that is four months after the date of issue of the Warrants, the closing price of Company’s common shares is higher than Cdn$0.25 for a period of 10 or more consecutive trading days (the “Acceleration Trigger”), the expiry date of the Warrants may be accelerated to the date that is 30 trading days after the date of a news release announcing the Acceleration Trigger.
The net proceeds of the common shares will be used for general working capital purposes.
In connection with the Private Placement, the Company has agreed to pay finder’s fees.
Closing of the Offering is anticipated to occur on or before December 5, 2018 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. All securities will be subject to a four month hold.
The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
About Copper North
Copper North is a Canadian mineral exploration and development company. Its assets include the Carmacks Project located in Yukon and the Redstone Property located in Northwest Territories. Copper North trades on the TSX Venture Exchange under the symbol COL.
On behalf of the Board of Directors:
Mr. Robert McKnight, P.Eng, MBA
For Further Information