- Kutcho Copper (KC) has arranged a non-brokered private placement
- Total proceeds from the hard-dollar and flow-through shares will total up to C$2.5M
- Kutcho Copper also announced the grant of an aggregate of 1,025,000 stock options to directors and senior officers of the company
- Kutcho Copper Corp is a Canadian resource development company
- Kutcho Copper Corp. (KC) is down 4 per cent, trading at C$0.48 per share at 10:50 am ET
Kutcho Copper (KC) has arranged a non-brokered private placement to raise total proceeds of up to C$2,500,000.
The offering will consist of up to 2,000,000 hard dollar shares at C$0.50 for gross proceeds of up to C$1,000,000 and 2,631,579 flow-through shares at C$0.57 per share for gross flow-through proceeds of up to C$1,500,000.
“Proceeds from this financing will allow the company to continue with its environmental baseline studies required through the permitting process, complete its feasibility study and provide working capital through to 2022,” stated Vince Sorace, President and CEO of Kutcho Copper Corp.
“Completion of the feasibility study remains on track for mid-year 2021. The Kutcho Copper project is uniquely positioned with a clear path through feasibility, permitting and ultimately production, and we are excited to continue this journey in a thriving copper market.”
Proceeds from the flow-through shares will be used to incur Canadian exploration expenditures that qualify as ‘flow-through mining expenditures’ on the Company’s Kutcho high grade copper-zinc project located in British Columbia.
The completion of the private placement is subject to approval of the TSX Venture Exchange.
All shares issued will bear a hold period of four months and one day from the date of issuance. The company may pay finder’s fees as permitted by applicable securities laws and the rules of the TSXV.
Kutcho Copper also announced the grant of an aggregate of 1,025,000 stock options to directors and senior officers of the company. Each option is exercisable at a price of $0.55 per share for a period of five years.
Kutcho Copper Corp is a Canadian resource development company focused on expanding and developing the Kutcho high-grade copper-zinc project in Northern British Columbia.
Kutcho Copper Corp. (KC) is down 4 per cent, trading at C$0.48 per share at 10:50 am ET.