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US Copper Corp Completes $200,000 Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - August 29, 2024) - US Copper Corp (TSXV: USCU) (OTCQB: USCUF)...
About this update from Us Copper Corp
[{"type":"text","content":"US Copper Corp Completes $200,000 Non-Brokered Private PlacementToronto, Ontario--(Newsfile Corp. - August 29, 2024) - US Copper Corp (TSXV: USCU) (OTCQB: USCUF) (FSE: C730) (\"US Copper\" or the \"Company\") is pleased to announce that it has completed a non-brokered private placement (the \"Private Placement\") for aggregate gross proceeds of $200,000. The Private Placement involved the issuance of 6,666,667 units (\"Units\") at a price of $0.03 per Unit. Each Unit consists of one common share in the capital stock of the Company (a \"Common Share\") and one warrant. Each whole warrant will entitle the holder to purchase one Common Share for $0.06 at any time within 2 years after closing. All securities issued pursuant to this Private Placement will be subject to a four-month hold period. The Private Placement remains subject to final acceptance by the TSX Venture Exchange. Insiders of the Company acquired directly and indirectly a total of $18,800 worth of Units or 626,667 Units in the Private Placement on the same basis as other participants. The direct and indirect participation in the Private Placement by an insider of the Company constitutes a \"related party transaction\" as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is relying on the exemptions from the formal valuation (section 5.5(b)) and minority approval requirements (section 5.7(1)(b)) under MI 61-101.A material change report in connection with the Private Placement will be filed less than 21 days before the closing of the Private Placement. The Company believes this shorter period is reasonable and necessary in the circumstances as the Company wished to complete the Private Placement in a timely manner. The Company intends to use the proceeds of the Private Placement for general working capital purposes.For Further Information Contact:Mr. Stephen Dunn, President, CEO and Director, US Copper Corp (416) 361-2827 or email [email protected] 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 press release.This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. se...