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Western Troy Announces Closing of Private Placement and Closing of Option and Earn-In Agreement
Toronto, Ontario--(Newsfile Corp. - December 22, 2021) - Western Troy Capital Resources Inc. (...
About this update from Global Copper Corp
[{"type":"text","content":"Western Troy Announces Closing of Private Placement and Closing of Option and Earn-In AgreementToronto, Ontario--(Newsfile Corp. - December 22, 2021) - Western Troy Capital Resources Inc. (TSXV: WRY.H) (the \"Company\") is pleased to announce that further to its press release of August 23, 2021, the Company has received conditional approval with respect to the option and earn-in agreement (the \"Agreement\") dated August 23, 2021 between the Company and US Copper Corp. (\"US Copper\"). Pursuant to the Agreement, the Company was granted an option (the \"Option\") to acquire a 100% undivided interest in 14 mineral claims covering approximately 227 hectares located in Whiteside Township in the District of Cochrane, Timmins Ontario (the \"Property\"). The Company is pleased to announce that it has made the initial payment under the Agreement through the issuance of 200,000 common shares (each, a \"Common Share\") in the capital of the Company at a price of $0.16 per Common Share to US Copper. Pursuant to the Agreement, the Company will issue 800,000 Common Shares to US Copper on or before the date that is six months from the signing of the Agreement and issue 1,500,000 Common Shares to US Copper on or before fifteen months from the signing of the Agreement. All securities issued pursuant to the Agreement will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.Private Placement The Company is pleased to announce that further to its press release of November 23, 2021, the Company has closed a non-brokered private placement through the issuance of 4,200,000 units (\"Unit\") at a price of $0.125 per Unit for gross proceeds of $525,000 (the \"Offering\"). Each Unit is comprised of one Common Share and one Common Share purchase warrant (each, a \"Warrant\") of the Company. Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.20 per Common Share for a period of one (1) year from the closing date (the \"Closing Date\") of the Offering. All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The net proceeds from the sale of the Units will be used for general working capital purposes. T...