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Kutcho Copper Announces Closing of $4.1 Million Private Placement
VANCOUVER, British Columbia, June 15, 2021 (GLOBE NEWSWIRE) -- Kutcho Copper Corp. (TSXV: KC) (OTC: KCCFF) (“Kutcho Copper” or the “Company”) announces that it
About this update from Kutcho Copper Corp
[{"type":"text","content":" VANCOUVER, British Columbia, June 15, 2021 (GLOBE NEWSWIRE) -- Kutcho Copper Corp. (TSXV: KC) (OTC: KCCFF) (“Kutcho Copper” or the “Company”) announces that it has completed a non-brokered private placement (the “Private Placement”) for gross proceeds of $4,100,000. The Private Placement is comprised of 5,200,000 hard-dollar shares priced at $0.50 per share for gross proceeds $2,600,000 and 2,500,000 flow-through shares priced at $0.60 per share for gross flow-through proceeds of $1,500,000. “This financing was led with a strategic investor with proceeds targeting continued advancement of the Kutcho copper-zinc project and for additional initiatives the Company is currently pursuing in order to optimize the value of the project,” stated Vince Sorace, President and CEO of Kutcho Copper Corp. “We expect to provide updates with regards to continued developments around the feasibility study in the near future.” The proceeds from the flow-through shares will be used to incur Canadian exploration expenditures (“CEE”) that qualify as ‘flow-through mining expenditures’ (as such terms are defined in the Income Tax Act (Canada) on the Company’s Kutcho high grade copper-zinc project located in British Columbia. The Private Placement is subject to the final approval of the TSX Venture Exchange (“TSXV”). All shares issued under the Private Placement bear a hold period of four months and one day from the date of issuance. The Company will pay cash finder’s fees in connection with Private Placement as permitted by applicable securities laws and the rules of the TSXV. Vince SoracePresident & CEO, Kutcho Copper Corp. For further information regarding Kutcho Copper Corp., please email [email protected] or visit our website at www.kutcho.ca. Cautionary Note Regarding Forward-Looking Statements Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expect”, “plans”, “pursuing”, “advancement”, “in ...