Business
CopAur Announces Closing of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 25, 2023) - CopAur Minerals Inc. (TSXV: CPA...
About this update from Copaur Minerals Inc.
[{"type":"text","content":"CopAur Announces Closing of Private PlacementVancouver, British Columbia--(Newsfile Corp. - August 25, 2023) - CopAur Minerals Inc. (TSXV: CPAU) (the \"Company\") announces that it has closed its previously announced non-brokered private placement (the \"Private Placement\") consisting of a total of 1,000,000 units of the Company's securities (\"Units\") at a price of $0.50 per Unit for gross proceeds of $500,000, which was fully subscribed by Jeremy Yaseniuk, the Company's Chief Executive Officer and Conrad Swanson, the Company's Chairman. See the Company's news release disseminated August 21, 2023.Each Unit consists of one common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share at an exercise price of $0.75 for a period of 24 months following the date of issuance.The proceeds from this Private Placement will be used to continue to advance the exploration at the Company's flagship Kinsley Mountain Gold Property in Nevada.Jeremy Yaseniuk, the Chief Executive Officer and Conrad Swanson, the Chairman of the Company sold an aggregate of 1,200,000 common shares of the Company from their personal holdings through the facilities of the TSX Venture Exchange (\"TSXV\") and invested $500,000 of the proceeds from the share sale in the Private Placement.All securities issued in connection with the Private Placement are subject to a regulatory hold period of four months and one day from the closing of the Private Placement.The participation of insiders in the Private Placement was in excess of 25% of the Private Placement. The issuance of securities to insiders pursuant to the Private Placement is considered to be a \"related party transaction\" subject to the requirements of TSXV Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that amount invested in the private placement by the insiders will not exceed 25% of the Company's market capitalization.About CopAur Minerals Inc.CPAU is an exploration company focused on developing projects within the emerging, mineral rich mining regions of Nevada and British ...