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Kutcho Copper Announces Closing of Private Placement for Gross Proceeds of $2.2 Million
VANCOUVER, British Columbia, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Kutcho Copper Corp. (TSXV: KC) (OTC: KCCFF) (“Kutcho Copper” or the “Company”) is pleased to ann
About this update from Kutcho Copper Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Kutcho Copper Corp. (TSXV: KC) (OTC: KCCFF) (“Kutcho Copper” or the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Private Placement”) of 11,000,000 units (each, a “Unit”) at a price of $0.20 per Unit for total gross proceeds of C$2,200,000. Each Unit is comprised of one common share (a “Share”) of the Company and one-half of one transferable common share purchase warrant (each whole being a “Warrant”). Each Warrant entitles the holder thereof to acquire one Share at a price of $0.30 for a period of two years from the closing of the Private Placement (the “Expiry Date”). All securities issued under the Private Placement are subject to a hold period of four months and one day expiring on January 24, 2021. In connection with the closing of the Private Placement, the Company paid finder’s fees of $85,155 and issued 425,775 non-transferable finder’s warrants (each, a “Finder’s Warrant”) to certain brokers in accordance with applicable securities laws. Each Finder’s Warrant entitles the holder to purchase one Share at a price of $0.30 per Share until the Expiry Date. Proceeds of the Private Placement will be used to commence the Company’s feasibility study on the Kutcho Copper project and for general corporate and working capital purposes. 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 “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Kutcho Copper believes the expect...