Infinitum Copper Announces up to C$1,000,000 Private Placement

About this update from Infinitum Copper Corp

[{"type":"text","content":"Infinitum Copper Announces up to C$1,000,000 Private PlacementVANCOUVER, BC / ACCESSWIRE / June 27, 2022 / Infinitum Copper Corp. (TSXV:INFI)(OTCQB:INUMF) (\"Infinitum\" or the \"Company\") is pleased to announce that it intends to raise up to C$1,000,000 by way of a non-brokered private placement financing consisting of up to 5,000,000 units (the \"Units\") at a price of C$0.20 per Unit, for gross proceeds of up to C$1,000,000 (the \"Offering\"). Each Unit will consist of one common share of the Company (each, a \"Common Share\") and one transferable Common Share purchase warrant (each, a \"Warrant\"). Each Warrant will entitle the holder to purchase one additional Common Share for a period of two (2) years from closing at a price of C$0.45.\"Our initial exploration efforts at La Adelita project in Sonora Mexico have helped us validate the project as a true district scale opportunity with numerous high-grade copper and gold targets. This financing will allow us to expand our plan and pursue some of these new targets. At our recently acquired Hot Breccia project in Arizona we will continue to move aggressively to get the project drill ready\" stated Steve Robertson, CEO of Infinitum Copper.Proceeds from the Offering will be used to fund exploration at La Adelita project in Sonora State, Mexico and the Hot Breccia project in Arizona State, USA, and for general corporate purposes. The securities issued in connection with the Offering, including any Common Shares issued upon exercise of the Warrants and Compensation Warrants, will be subject to a four month restricted resale period and applicable securities legislation hold periods outside of Canada from the closing date.A finder's fee may be paid in connection with the placement to finders as determined by mutual agreement between the Company and the finders and subject to TSX Venture Exchange (\"TSX V\") approval. The finder's fee will consist of cash equal to seven percent (7.0%) of the Units sold to investors introduced by such finder, and nontransferable share purchase warrants equal to seven percent (7.0%) of such Units sold to investors (\"Compensation Warrants\"). The Compensation Warrants will permit the purchase of one Common Share for a period of two (2) years from closing at a price of C$0.20.Completion of the Offering will be subject to all necessary approvals, includi...

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