World News: 10:00 GMT Tuesday 28th May 2019. [Libero Copper Corporation via Globe Newswire via SPi World News]
VANCOUVER, British Columbia, May 28, 2019 (GLOBE NEWSWIRE) -- announces a non-brokered private placement consisting of: (i) up to 10,000,000 Units (“”) at a price of C$0.10 per Unit for aggregate gross proceeds of up to C$1,000,000 (the “”); (ii) up to 10,000,000 Units at a price of C$0.15 per Unit for aggregate gross proceeds of up to C$1,500,000 to residents of British Columbia (the “”) and (iii) 1,904,761 Common Shares (“”) at a price of C$0.105 per Common Share for aggregate gross proceeds of up to C$200,000 (the “” and together with the NFT Unit Offering and Super FT Unit Offering, the “”).
Each Unit consists of one Common Share and one common share purchase Warrant (“”). Each Warrant entitles the holder to acquire one Common Share for a period of 24 months from closing at a price of C$0.15.
Common Shares issued under the Super FT Unit Offering and FT Offering qualify as ‘flow through shares’ (“”). The gross proceeds from the Super FT Unit Offering and FT Offering will be used to incur ‘Canadian exploration expenses’ that will qualify as ‘flow through mining expenditures’ as those terms are defined in the which will be renounced to the initial purchasers of the Flow Through Shares.
The net proceeds of the Offering will be used for exploration at the Big Red project and general working capital purposes. Closing of the Offering is subject to approval of the TSX Venture Exchange.
Libero Copper is acquiring high-quality copper deposits with significant resources but without any fatal flaws or significant holding costs and exceptional copper exploration properties in the Americas. These assets are being advanced and de-risked by a seasoned team to minimize dilution and maximize shareholder value. The portfolio currently includes the Big Red exploration project in Canada, the Tomichi deposit in the United States and the Mocoa deposit in Colombia which both contain large inferred mineral resources. In total the properties contain 7.9 billion pounds of copper and 1.1 billion pounds of molybdenum.
Ian SlaterChief Executive Officer+1 604 638 2545liberocopper.com
Globe Newswire: 10:00 GMT Tuesday 28th May 2019
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