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Coast Copper Announces Non-Brokered Financing for up to $1.54M

Coast Copper Announces Non-Brokered Financing for up to $1.54M
Canada NewsWire
VANCOUVER, BC, Nov. 5, 2021

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
TSX.V: COCO
VANCOUVER, BC, Nov. 5, 202…

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Coast Copper Announces Non-Brokered Financing for up to $1.54M

Canada NewsWire

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

TSX.V: COCO

VANCOUVER, BC, Nov. 5, 2021 /CNW/ – Coast Copper Corp. (“Coast Copper” or the “Company”) (TSXV: COCO) (formerly Roughrider Exploration Limited) announces it is undertaking a non-brokered private placement comprised of up to 8,000,000 flow-through units of the Company (the “FT Units“) at an issue price of $0.13 per FT Unit and up to 5,000,000 non flow-through units of the Company (the “NFT Units“) at an issue price of $0.10 per NFT Unit for gross proceeds of up to $1,540,000 (the “Offering“).

Each FT Unit will consist of one common share in the capital of Coast Copper and one-half of one non-transferable common share purchase warrant, with each whole warrant entitling the holder to acquire an additional common share of the Company at an exercise price of $0.15 per share with an expiry date (“Expiry Date“) of 18 months after completion of the Offering (the “Closing Date“). If, at any time after the Closing Date, the volume weighted average trading price of Coast Copper’s common shares on the TSX Venture Exchange (the “Exchange“), or other principal exchange on which the common shares are listed, is greater than $0.225 for 10 consecutive trading days, the Company may, at its option, deliver a notice to the holders of the warrants accelerating the Expiry Date to the date that is 30 days following the date of such notice (the “Accelerated Exercise Period“). Concurrent with the giving of such notice, the Company will also issue a press release disclosing the Accelerated Exercise Period. Any unexercised warrants shall automatically expire at the end of the Accelerated Exercise Period. Each NFT Unit will consist of one common share in the capital of the Company and one-half of one non-transferable common share purchase warrant, with the warrants having the exact same terms as the warrants associated with the FT units.

The gross proceeds raised from the issuance of FT Units will be used by Coast Copper to incur eligible Canadian exploration expenses (“CEE”) that will qualify as FT mining expenditures as such terms are defined in the Income Tax Act (Canada) related to the Company’s projects in British Columbia. The Company will renounce such CEE with an effective date of no later than December 31, 2021, with CEE to be incurred prior to December 31, 2022. The net proceeds from the issuance of NFT Units will be used for working capital and general corporate purposes.

The Offering remains subject to the approval of the Exchange. All securities issued in the Offering will be subject to a statutory hold period of four months and a day from the Closing Date. The Company may pay finders fees in accordance with the rules and policies of the Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Coast Copper Corp.

Coast Copper’s exploration focus is the optioned Empire Mine Property, located on Northern Vancouver Island, B.C., which covers three historical open pit mines and two past-producing underground mines that yielded iron, copper, gold and silver. Coast Copper’s other properties include its 100% owned Eldorado, Gin and Bonanza properties located in the Golden Triangle of northern B.C. which are adjacent to the Red Chris Mine, the Knob Hill NW Property located on northern Vancouver Island and the 100% owned Sterling, Sandy and Home Brew properties which are located in central B.C. Coast Copper’s management continues to review precious and base metals opportunities in western North America.

On Behalf of the Board of Directors:

“Adam Travis”

Adam Travis, Chief Executive Officer and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain information contained or incorporated by reference in this press release, including any information regarding the proposed Transaction, private placement, board and management changes, as to our strategy, projects, plans or future financial or operating performance, constitutes “forward-looking statements.” All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by Coast Copper, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although Coast Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.

SOURCE Coast Copper Corp.




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Brascan Enters into Option Agreement to Acquire Black Cat Property

Vancouver, British Columbia–(Newsfile Corp. – December 7, 2021) – Brascan Gold Inc. (CSE: BRAS) ("Brascan" or the "Company") is pleased to announce that…

Vancouver, British Columbia–(Newsfile Corp. – December 7, 2021) – Brascan Gold Inc. (CSE: BRAS) (“Brascan” or the “Company“) is pleased to announce that it has entered into an option agreement (the “Agreement“) with Jason Flight, Wayne Hurley, Kenneth Lewis, Garland Rice, Peter Hurley and Daniel Jacobs (collectively, the “Optionors“) to acquire a 100% interest in the Black Cat property located 40 km south of the town of Baie Verte, Newfoundland (the “Property“). The Property contains 56 mineral claims and has two licences. The Property is near Brascan’s Middle Arm Fault property, which Brascan optioned on November 4, 2021. The Property is accessible by road and is within 100 km of the Nugget gold/copper milling facility. The option claims are near the northern boundary of Maritime Resources Corp.‘s Whisker Valley project, and Maritime’s past-producer Hammerdown gold deposit, which is described in some detail in Maritime’s PEA (McCracken et al., 2020).[1]

The province of Newfoundland and Labrador is ranked among the top 10 mining jurisdictions world-wide by the Fraser Institute. The Baie Verte district in northwestern Newfoundland boasts excellent infrastructure reflecting its long mining history including a skilled workforce, a deep water port facility at Pine Cove, gold milling facilities at Pine Cove and Nugget Pond, a local assay laboratory, local mining and drilling contractors, high power transmission lines, a regional airport (100 km from the community of Baie Verte) and local hospitals, schools, hotels and supplies.

The Property covers a portion of the regionally significant Middle Arm Fault, which extends more than 15 km to the southwest, where it is spatially associated with several gold showings, as reported on the Newfoundland and Labrador Geoscience Atlas (https://geoatlas.gov.nl.ca/Default.htm). An initial round of sampling on the Property in 2020 resulted in 17 of 35 samples having the sulphite content of the quartz veins similar to the nearby Whisker Valley property. Given the strong gold content in the soil and till anomalies, it is likely that gold exists near the surface and within the mineralized quartz vein system of the Property.

Pursuant to the Agreement, the Company may acquire a 100% interest in the Property by: (i) making an aggregate cash payment to the Optionors of $168,000; (ii) issuing an aggregate of 670,000 common shares of the Company to the Optionors; and (iii) incurring an aggregate of $725,000 in exploration expenditures on the Property all prior to the fourth anniversary of the date of the Agreement. The share issuances, cash payments and exploration commitments gradually increase over the term of the Agreement. The Optionors will retain a 2.5% net smelter royalty, 1.5% of which may be purchased by Brascan for $2,000,000.

Qualified Person

Harrison Kookenboo, Ph.D., P.Geo. and a qualified person by the standards of Canadian National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein.

About the Company

The Company is a gold exploration issuer based in Vancouver, BC. The Company holds an option over the Vulcan Property, located in the Fort Steele Mining Division in southeastern BC and the Middle Arm Fault and Black Cat properties, located 30 km. and 40 km. south, respectively, of the town of Baie Verte, Newfoundland.

For more information, investors should review the Company’s filings that are available at www.sedar.com.

Contact Information

Balbir Johal
Director
Telephone: 604 812 1747
Email: [email protected]

Forward-Looking Statements

This news release contains certain forward-looking statements that are “forward looking information” within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the share issuances, the cash payments and the exploration expenditures, the viability of exploration at the Property and the NSR are “forward-looking information”. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

[1] https://www.maritimeresourcescorp.com/site/assets/files/5013/hammerdown_pea_technical_report_4-15-20.pdf

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107033





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Results of the Shareholders Meeting

VAL-D’OR, Québec, Dec. 07, 2021 (GLOBE NEWSWIRE) — Pershimex Resources Corporation (“Pershimex” or the “Corporation”) (TSX Ventures: PRO)…

VAL-D’OR, Québec, Dec. 07, 2021 (GLOBE NEWSWIRE) — Pershimex Resources Corporation (“Pershimex” or the “Corporation”) (TSX Ventures: PRO) is pleased to announce the results of its annual and special meeting of shareholders held on December 3, 2021. The shareholders approved, by a majority of votes, a resolution to elect the following directors: Loïc Bureau, Roger Bureau, Robert Gagnon and Serge M. Racine. Also, the shareholders, by a majority of votes, proceeded with the appointment of Raymond Chabot Grant Thornton LLP as auditors of the Corporation and approved the continuation of the 10% rolling stock option plan.

For more information, please contact:

Robert Gagnon, President

Tel.:        (819) 825-2303

Warning

The TSX Venture Exchange and its regulatory services provider (as is attributed to this term in the policies of the TSX Venture Exchange) assume no responsibility for the relevance or accuracy of the information contained in this press release.




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Ultra Resources Inc. Closes First Tranche of Private Placement for Gross Proceeds of C$3.6 Million

VANCOUVER, British Columbia, Dec. 07, 2021 (GLOBE NEWSWIRE) — Ultra Resources Inc. (TSX-V: ULT) (“Ultra Resources” or the "Company") is pleased…

VANCOUVER, British Columbia, Dec. 07, 2021 (GLOBE NEWSWIRE) — Ultra Resources Inc. (TSX-V: ULT) (“Ultra Resources” or the “Company”) is pleased to announce that it has closed the first tranche of its previously announced private placement (the “Private Placement”) for gross proceeds of C$3,626,899. The Company sold 7,005,148 flow-through units of the Company (each, a “FT Unit”) at a price of C$0.165 per FT Unit for gross proceeds of C$1,155,849 from the sale of FT Units, and 16,473,667 non-flow-through units of the Company (each, an “NFT Unit”) at a price of C$0.15 per NFT Unit for gross proceeds of C$2,471,050 from the sale of NFT Units.

Each FT Unit consists of one (1) common share of the Company issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, a “FT Share”), and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each NFT Unit consists of one common share of the Company (each, a “NFT Share”) and one half of one Warrant. Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.25 per share for a period of twelve (12) months from their date of issue.

Proceeds from the sale of NFT Units will be used to fund the exploration of the Company’s Argentine and Ontario properties and for general working capital purposes.

Proceeds from the sale of FT Units will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Tax Act and “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act (“Qualifying Expenditures“). Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2021, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares. Proceeds from the Offering will be used for to fund eligible exploration expenditures of the Company’s Georgia Lake and Forgan Lake projects in north-western Ontario.

Finder’s fees of C$242,889.46 were paid and 660,227 finder’s warrants were issued in connection with the Private Placement. Each finder’s warrant will entitle the holder thereof to purchase one common share of the Company at an exercise price of $0.25 for a period of twelve (12) months from the date of issuance. All securities issued in connection with the Private Placement are subject to a statutory hold period expiring four months and one day from issuance under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The private placement is subject to final approval by the TSX Venture Exchange.

The securities issued under the Private Placement 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.

ON BEHALF OF THE BOARD OF DIRECTORS

“Kiki Smith”
Kiki Smith, CFO

Ultra Resources is an exploration and development company with a focus on the acquisition and development of lithium, gold, and copper assets. The Company holds a brine lithium property in Argentina, and hard rock spodumene type lithium properties at the Georgia Lake / Forgan Lake area in northwestern Ontario, Canada. The Company also holds other gold and base metals properties in Argentina.

FOR FURTHER INFORMATION CONTACT:
For further information, please contact the Company at:
Attention: Kiki Smith
Telephone: 778 968-1176
Email: [email protected]
Website: www.ultraresourcesinc.com
or view the Company’s filings at www.SEDAR.com.

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.







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