- Copper Lake Resources (CPL) has closed the final tranche of its non-brokered private placement for gross proceeds of $219,609
- The final tranche closing of the offering saw the company issuing 300,000 flow-through units at a price of $0.10 per FT unit and 2,106,765 non-flow-through units at a price of $0.09 per NFT unit
- The company has raised a total of $1,563,859 and issued 10,820,655 NFT units and 5,900,000 FT units in connection with both tranches of the offering
- Copper Lake Resources Ltd. is a publicly-traded Canadian mineral exploration and development company with interests
- Copper Lake Resources Ltd. opened trading at $0.065 per share
Copper Lake Resources (CPL) has closed the final tranche of its non-brokered private placement for gross proceeds of $219,609.
The final tranche closing of the offering saw the company issuing 300,000 flow-through units at a price of $0.10 per FT unit and 2,106,765 non-flow-through units (NFT units) at a price of $0.09 per NFT unit.
Each FT unit consists of one flow-through common share and one-half of a common share purchase warrant, with each warrant being exercisable at $0.15 for 36 months.
Each NFT unit consists of one common share and one warrant, with each warrant being exercisable at $0.15 for 36 months.
The company paid no finders’ fees in connection with this final tranche of the offering.
The company has raised a total of $1,563,859 and issued 10,820,655 NFT units and 5,900,000 FT units in connection with both tranches of the offering, and paid total finders’ fees of $57,137 in cash, and issued 616,195 non-transferable finders’ warrants exercisable at $0.15 for a period of 36 months from the closing date.
The proceeds from the issuance of the FT units will be used to incur qualified Canadian exploration expenses for planned exploration work on the Marshall Lake copper-zinc-silver-gold property.
Net proceeds from the issuance of the NFT units will be used for general corporate purposes, as well as supporting work on the Marshall Lake property.
Copper Lake Resources Ltd. is a publicly-traded Canadian mineral exploration and development company with interests in two projects, both located in Ontario.
Copper Lake Resources Ltd. opened trading at $0.065 per share.
