Business
Chakana Copper Completes CDN$8 Million Strategic Investment From Gold Fields Limited
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, May 13, 2019 (GLOBE NEWSWIRE) --
About this update from Chakana Copper Corp.
[{"type":"text","content":" NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, May 13, 2019 (GLOBE NEWSWIRE) -- Chakana Copper Corp. (“Chakana” or the “Company”) (TSX-V: PERU; OTCQB: CHKKF; FWB: 1ZX) is pleased to announce that it has completed the previously announced private placement with Gold Fields Nazca Holdings Inc., a group company of Gold Fields Limited, (“Gold Fields”) (NYSE: GFI), pursuant to which a wholly-owned subsidiary of Gold Fields has acquired a 16.14% interest in the Company. The private placement involved the issue of 15,686,275 common shares of the Company (the “Chakana Shares”) at a price of $0.51 per Chakana Share for total gross proceeds of CDN$8,000,000 (the “Financing”). The net proceeds of the Financing will be used to advance the exploration and development of the Company's expanded Soledad copper-gold project in Central Peru. All securities issued in the Financing will be subject to a statutory four month hold period. For additional details on the Financing please refer to the Company’s news release of April 29, 2019. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such 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, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or \"U.S. Persons\", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements. ON BEHALF OF THE BOARD (signed) “David Kelley” David Kelley President and CEO For further information contact:Michelle Borromeo, Manager – Corporate CommunicationsPhone: 604-715-6845Email: [email protected] Neither TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements, including relating to the use of the n...