Business
Copper Fox Announces $1,800,000 Non-Brokered Private Placement
Calgary, Alberta--(Newsfile Corp. - February 13, 2020) - Copper Fox Metals Inc. (TSXV: CUU)...
About this update from Copper Fox Metals Inc.
[{"type":"text","content":"Copper Fox Announces $1,800,000 Non-Brokered Private PlacementCalgary, Alberta--(Newsfile Corp. - February 13, 2020) - Copper Fox Metals Inc. (TSXV: CUU) (OTC Pink: CPFXF) (\"Copper Fox\" or the \"Company\") is pleased to announce that it intends to complete, subject to the approval of the TSX Venture Exchange, a non-brokered private placement to raise up to $1,800,000 in gross proceeds (the \"Offering\"). The Offering will consist of up to 22,500,000 units (each a \"Unit\") at a price of $0.08 per Unit. Each Unit will consist of one common share in the capital of the Company (a \"Common Share\") and one-half (1/2) common share purchase warrant (a \"Warrant\"). Each whole Warrant will entitle the holder to purchase one Common Share for an exercise price of $0.12 during the first 12-month period after the closing of the Offering and $0.15 during the second 12-month period after the closing of the Offering. In the event that the 20-day volume weighted average price of the common shares listed on the TSX Venture Exchange is above $0.20, the expiry date of the Warrants will be accelerated to a date that is 30 days after the first date such threshold is met.Copper Fox is making the Offering available to subscribers under a number of available prospectus exemptions, including the accredited investor exemption, family and close personal friends and business associates of directors and officers of the Company. The Offering is also available to all existing shareholders of Copper Fox who, as of the close of business on February 12, 2020 (the \"Record Date\"), held shares (and who continue to hold such shares as of the closing date) in accordance with the provisions of the \"existing security holder exemption\" contained in the various corresponding blanket orders and rules of participating jurisdictions (the \"Existing Security Holder Exemption\").The Company advises that there are conditions and restrictions when subscribers are relying upon the Existing Security Holder Exemption, including, among other criteria: (a) the subscriber must be a shareholder of the Company on the Record Date (and still be a shareholder), (b) be purchasing the units as a principal - for his or her own account and not for any other party, and (c) may not purchase more than $15,000 value of securities from the Company in any 12-month period. There is an excepti...