Copper Fox announces increase in previously announced private placement to $3,000,000 (cnw)

VANCOUVER, March 8, 2013 /CNW/ - Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSXV: CUU) is pleased to announce that subject to the approval of the TSX-Venture Exchange, it has increased the size of its previously announced non-brokered private placement from $2,500,000 to $3,000,000 (the "Amended Offering"). The Amended Offering is expected to consist of up to 3,797,468 Units at a Purchase Price of $0.79 per Unit, for aggregate gross proceeds of up to $3,000,000. 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 83%, or $2,500,000 participation in the Amended Offering. The Company intends to place the remaining $500,000 of the Amended Offering on a private placement basis.

Monies raised from the Amended Offering will be used to fund costs associated the Environmental Assessment Application, development expenses of the Companies Schaft Creek and Arizona projects, and general operating expenses.