1269280 B.C. Ltd Announces Closing of Concurrent Financing

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[{"type":"text","content":"1269280 B.C. Ltd Announces Closing of Concurrent FinancingVancouver, British Columbia--(Newsfile Corp. - August 12, 2021) - Allied Copper Corp. (TSXV: CPR) (OTCQB: CPRRF) (\"Allied Copper\") and 1269280 B.C. Ltd. (the \"Company\") is pleased to announce, that further to its press release of May 26, 2021, the Company has completed the non-brokered private placement of 12,523,623 subscription receipts at a price of $0.30 per Subscription Receipt (the \"Issue Price\") for aggregate gross proceeds of up to a maximum of $3,757,086 (the \"Offering\"). The gross proceeds of the Offering (the \"Escrowed Proceeds\") will be held in escrow on behalf of the subscribers of the Subscription Receipts by TSX Trust Company (the \"Escrow Agent\"), pursuant to the terms of a subscription receipt agreement (the \"Subscription Receipt Agreement\") dated July 16, 2021 (the \"Offering Closing Date\") among the Company and the Escrow Agent. Each Subscription Receipt will be automatically converted, without payment of any additional consideration and without further action on the part of the holder thereof, for one unit (a \"Unit\") of the Company upon satisfaction or waiver of the escrow release conditions (\"Escrow Release Conditions\") set out below and in the Subscription Receipt Agreement and prior to a Termination Event (as defined below), subject to adjustment in certain events. The Units to be issued upon conversion of the Subscription Receipts will be comprised of one common share of the Company (a \"Unit Share\") and one-half of one whole common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will be exercisable by the holder thereof for one common share of the Company (each, a \"Warrant Share\") at an exercise price of $0.45 per Warrant Share for a period of twenty-four (24) months following the date of issuance (the \"Warrant Term\") provided, however, that should the closing price at which the Common Shares trade on the TSX Venture Exchange (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) exceed CDN$0.90 for 20 consecutive trading days at any time following the date that is four months and one day after the date of issuance, the Company may accelerate the Warrant Term (the \"Reduced Warrant Term\") such that the Warrants shall expire on the date which is 30 business...

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