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Power Ore Announces $1,000,000 Non-Brokered Financing to Drill Opemiska Copper Mine Complex
Power Ore Announces $1,000,000 Non-Brokered Financing to Drill Opemiska Copper Mine Comple...
About this update from Xxix Metal Corp.
[{"type":"text","content":"\n\n\n\nPower Ore Announces $1,000,000 Non-Brokered Financing to Drill Opemiska Copper Mine Complex\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Feb. 28, 2019\n\n\n\nTORONTO, Feb. 28, 2019 /CNW/ - Power Ore Inc. (\"Power Ore\" or the \"Company\") (TSX.V: PORE) is pleased to announce the commencement of an up to $1,000,000 non-brokered financing. The net proceeds of this financing will be used towards the first phase of the Company's drill campaign and for development of the Opemiska Copper Complex project as well as for general working capital. The terms of the financing are as follows: \nHard Dollar Units are 10 cents and include a common share plus one half warrant exercisable at 15 cents for 2 years.Flow Through Units are 12 cents and include a common share plus one half warrant exercisable at 16 cents for 2 years.Subscription agreements are available upon request. The financing is only available to accredited investors.\nCompletion of the Financing remains subject to the approval of the TSX Venture Exchange. The financing may include any combination of Hard Dollar Units and Flow Through Units. All securities issued pursuant to the Financing will be subject to a statutory four month hold period.\nAbout Opemiska Copper Mine Complex\nThe Opemiska Copper Complex is located adjacent to the town of Chapais, Quebec within the Chibougamau region. Opemiska is also within the Abitibi Greenstone belt and within the boundaries of the Province of Quebec's Plan Nord which promotes and funds infrastructure and development of natural resource projects. The project consists of 11 mining claims and covers the past producing Springer & Perry mines which were owned and operated by Falconbridge. The project has excellent in place infrastructure including a power station and direct access to Highway 113 and the Canadian National Railway.\nOpemiska was mined by Falconbridge as a high-grade underground mining operation, and was in production for over 35 years prior to Ex-In acquiring the property in 1993.\nFor information and updates on Power Ore, ple...