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CopAur Announces Closing of Final Tranche of Non-Brokered Private Placement of $2,610,500
Vancouver, British Columbia--(Newsfile Corp. - April 25, 2023) - CopAur Minerals Inc. (TSXV: CPA...
About this update from Copaur Minerals Inc.
[{"type":"text","content":"CopAur Announces Closing of Final Tranche of Non-Brokered Private Placement of $2,610,500Vancouver, British Columbia--(Newsfile Corp. - April 25, 2023) - CopAur Minerals Inc. (TSXV: CPAU) (the \"Company\") is pleased to announce that it has closed the entire private placement of its previously announced non-brokered private placement of up to six million units (\"the Units\") at a price of $0.50 per Unit (see news releases disseminated on March 22, and April 13, 2023 (the \"Offering\"). Each Unit consists of one (1) common share and one half (1/2) of one transferable common share purchase warrant (\"Warrant\") of the Company. Each whole Warrant will entitle the holder to purchase one (1) common share at an exercise price of $0.75 for twenty-four (24) months from the date of issuance. The Final Tranche raised gross proceeds of $2,610,500 from the sale of 5,221,000 Units. All securities issued in connection with the Offering are subject to a Canadian securities law resale restriction period expiring four (4) months from the date of issuance of the securities.A portion of the Private Placement constitutes a \"related party transaction\" within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") adopted in the Policy. The Company intends to rely on exemptions from the formal valuation and minority approval requirements in sections 5.5(b) and 5.7(e) of MI 61-101 on the basis that the Company is not listed on any specified senior stock exchanges and that the Company is facing financial hardship and the transactions are designed to improve the Company's financial position. Existing insiders participated in the First Tranche for an aggregate amount of $30,000, representing 1.15% of the First Tranche. The Company has paid a total finders fee $77,455 plus 154,910 finder warrants to acquire one common share for a period of two years at an exercise price of $0.50 and 58,310 finder warrants and finder cash of $52,455 to acquire one common share for a period of two years at an exercise price of $0.75. The Offering is subject to final TSX Venture Exchange approval. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable e...