Business
Coro Mining Announces a CAD$7.3 Million Private Placement
Vancouver, British Columbia--(Newsfile Corp. - September 11, 2017) - Coro Mining Corp. (TSX:...
About this update from Marimaca Copper Corp.
[{"type":"text","content":"Coro Mining Announces a CAD$7.3 Million Private PlacementVancouver, British Columbia--(Newsfile Corp. - September 11, 2017) - Coro Mining Corp. (TSX: COP) (\"Coro\" or the \"Company\") announces a non-brokered private placement financing of up to 56,067,692 common shares at a price of CA$0.13 to raise gross proceeds of up to CAD$7.3 million (the \"Private Placement\"). The main use of proceeds will be to complete a Definitive Feasibility Study (\"DFS\") at the Company's Marimaca copper development project in Chile, including geotechnical, metallurgical and infill drilling, to earn Coro's 75% interest in the project and to fast-track Marimaca to production. The remainder of the funds may be used for working capital purposes. It is anticipated that Greenstone Resources L.P. (\"Greenstone\"), the Company's major shareholder, will exercise its pre-emptive right and continue to participate in financing the Company. About Coro Mining Corp.:Coro is a copper producer in Chile with a strategy to grow through the discovery, development and operation projects at any stage of development, which are well located with respect to infrastructure and water, have low permitting risk, and have the potential to achieve a short and cost effective timeline to production. The Company's preference is for open pit heap leach copper projects, where minimizing capital investment and creating profitability are priorities and where the projected capital cost is financeable relative to the Company's market capitalization. The Company's assets include the Marimaca development project; its 65% interest in the SCM Berta company, which owns the Berta mine and Nora plant and the Llancahue prospect. Contact Naomi Nemeth, VP Communications/IR at +1 (647) 556 1023, +1 (604) 682 5546 ext. 202, Toll free +1 877 702 2676, ext. 202 or [email protected] our website site at www.coromining.comEmail us at [email protected] us on Twitter @coromining1 Cautionary Note Regarding Forward Looking StatementsCertain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These forward looking statements relate to future events or the Company's future performance, business prospects or opportunities including, without limitation, statements relating to the completion of the Private...