NR Key Reason
Monies raised from the Offering will be used to fund costs associated
with the Environmental Assessment Application, development expenses of
the Companies Schaft Creek and Arizona projects, and general operating
expenses.
"development expenses and general operating expenses" Quite vague, I was expecting a more detail reasoning behind this PP.
Copper Fox Metals Inc (CUU:TSXV) - News Alert
Copper Fox announces a $2,500,000 Private Placement Unit Offering, insider commits to 100% participation
Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX-V: CUU) is pleased to announce that subject to the approval of the TSX-Venture
Exchange, the Company intends to complete a non-brokered Private
Placement to raise up to CDN $2,500,000 (the "Offering"). The Offering
is expected to consist of 3,164,557 Units at a Purchase Price of $0.79
per Unit, for aggregate gross proceeds of $2,500,000. Each Unit
consists of one common share and one common share purchase warrant of
Copper Fox. Each Warrant entitles the holder thereof to acquire one
common share of Copper Fox at an exercise price of $1.00 prior to 5:00
pm on the one year anniversary of closing of the Offering.
Mr. Ernesto Echavarria, a Director, insider, and control person of
Copper Fox as defined by the policies of the TSX-Venture Exchange, has
committed to 100% participation of this Offering.
Monies raised from the Offering will be used to fund costs associated
with the Environmental Assessment Application, development expenses of
the Companies Schaft Creek and Arizona projects, and general operating
expenses.
About Copper Fox
Copper Fox is a Canadian-based resource development company listed on
the TSX Venture Exchange (TSX-V: CUU) with a corporate office in
Calgary, Alberta and an operations office in Vancouver, British
Columbia. Its major asset is the Schaft Creek copper, gold, molybdenum
and silver deposit located in northwestern British Columbia, Canada for
which a positive Feasibility Study was recently completed and filed onwww.sedar.com.
