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Interra Copper Announces Closing of Private Placement
July 29, 2024 – TheNewswire - VANCOUVER, British Columbia – Interra Copper Corp. (CSE: IMCX; FRA: 3MX) (“Interra” or the “Company”) is pleased to announce that,
About this update from Copper Quest Exploration Inc.
[{"type":"text","content":"July 29, 2024 – TheNewswire - VANCOUVER, British Columbia – Interra Copper Corp. (CSE: IMCX; FRA: 3MX) (“Interra” or the “Company”) is pleased to announce that, further to its news release dated July 19, 2024, it has closed its non-brokered private placement (the “Private Placement”) issuing an aggregate of 999,933 units (the “Units”, and each, a “Unit”) at a price of $0.12 per Unit for proceeds of $119,991.96, and issuing an aggregate of 1,114,424 units (the “Debt Settlement Units”) at a deemed value of $0.12 per Debt Settlement Share to satisfy an aggregate of $133,730.88 in bona fide debt. CEO Brian Thurston commented, “We are incredibly grateful to everyone who has supported us in the last two financing rounds closed this month. The trust and confidence from both investors and insiders speaks to the quality of Interra Copper’s projects and management. We are now well financed to advance both our BC projects and look forward to achieving significant results during our upcoming drill program to create value for all shareholders.” Each Unit consists of one (1) common share of the Company (a “Share”) and one-half (1/2) of one (1) Share purchase warrant, whereby each whole Share purchase warrant (a “Warrant”) is convertible into an additional Share (a “Warrant Share”) at an exercise price of $0.15 per Warrant Share. Each Warrant will expire on July 26, 2025, being the date that is one (1) year following the date of issuance. Proceeds from the Private Placement are intended for exploration activities and general working capital purposes. All securities issued in connection with the Private Placement are subject to a statutory hold period expiring November 27, 2024, being the date that is four months and one day from the date of issuance. No finder’s fees were paid in connection with the Private Placement. Pursuant to the Private Placement, the Company issued an aggregate of 375,000 of the Debt Settlement Units with a total deemed value of $45,000 to certain insiders of the Company, namely Brian Thurston, Chief Executive Officer and Director of the Company, Jason Nickel, Director of the Company, and Mark Cruise, Director of the Company, each receiving 125,000 Shares (deemed value of $15,000). The participation by the insiders of the Company in the Private Placement constitutes a \"related party transaction\" as defined under Multil...