Business
Kombat Copper Launches $3 Million Financing
/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/ VAN...
About this update from Safi Silver Corp.
[{"type":"text","content":"\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE\n SERVICES/\n\n\nVANCOUVER, July 29, 2013 /CNW/ - Kombat Copper Inc. (the \"Company\")\n (TSX.V: KBT) has launched a private placement financing (the\n \"Offering\") of up to 30,000,000 units (each, a \"Unit\"), each Unit being\n comprised of one common share (a \"Common Share\") and one common share\n purchase warrant (a \"Warrant\") at a purchase price of $0.10 per Unit\n for gross proceeds up to $3,000,000. Each Warrant shall entitle the\n holder thereof to acquire one Common Share at an exercise price of\n $0.20 per common share at any time before the date that is three years\n from the date of issue, subject to an acceleration provision whereby if\n at any time after four months and one day from the closing of the\n Offering, the Common Shares trade at $0.30 per share or higher on the\n TSX Venture Exchange (on a volume weighted adjusted basis) for a period\n of 30 days, the Company will have the right to accelerate the expiry\n date of the Warrants to the date that is 30 days after the Company\n issues a news release announcing that it has elected to exercise this\n acceleration right.\n\n\nThe proceeds from the Offering will be used to fund site exploration on\n the Company's mining and prospecting licenses in the Otavi\n Mountainlands, Namibia and for general corporate purposes.\n\n\nForbes & Manhattan, Inc. (\"Forbes\") has committed to assisting in\n raising gross proceeds for the Company of up to $2,000,000. Upon\n successful completion of this portion of the Offering, and subject to\n other conditions as set forth in an investment agreement between the\n Company and Forbes, Forbes shall have the right to nominate two\n individuals for appointment to the Company's Board of Directors,\n expected to be Mr. Bill Nielsen and Mr. Mike Hoffman.\n\n\nMr. Nielsen is an accredited geologist with over 35 years of worldwide\n mineral exploration and development experience. Most recently, he has\n been working as a senior industry consultant to mining exploration\n companies working with a variety of commodities in various countries\n and geological environments. From 2003 to 2008, Mr. Nielsen was the\n V.P. Exploration of Nevsun Resources Ltd., where he played a\n significant role in the discovery of the Bisha gold-VMS deposit in\n Eritrea. He has wor...