New Issue: Copper Fox wraps C$12.4 million private placement of units

By Devika Patel

Knoxville, Tenn., May 15 - Copper Fox Metals Inc. said it raised C$12.4 million in a non-brokered private placement of units.

The company sold 20,853,848 flow-through units of one flow-through common share and one half-share warrant at C$0.45 apiece for C$9.38 million. The whole warrants are exercisable at C$0.65 for one year.

Copper Fox also sold 7,535,000 units of one common share and one half-share warrant at C$0.40 apiece for C$3.01 million. The whole warrants are exercisable at C$0.60 for one year.

Proceeds will be used for metallurgical testing, engineering studies, road access, studies of power options and other costs expected to be incurred in the completion of the Schaft Creek Mineral Deposit Feasibility Study as well as for general operating purposes.

Copper Fox is a copper mining company based in Calgary, Alta.

Issuer:	Copper Fox Metals Inc.
Issue:	Flow-through units of one flow-through common share and one half-share warrant; units of one common share and one half-share warrant
Amount:	C$12,398,231.60
Agent:	Non-brokered
Settlement date:	May 15
Stock symbol:	TSX Venture: CUU
Stock price:	C$0.49 at close May 14
Flow-through units
Amount:	C$9,384,231.60
Units:	20,853,848
Price:	C$0.45
Warrants:	One half-share warrant per unit
Warrant expiration:	One year
Warrant strike price:	C$0.65
Units
Amount:	C$3,014,000
Units:	7,535,000
Price:	C$0.40
Warrants:	One half-share warrant per unit
Warrant expiration:	One year
Warrant strike price:	C$0.60

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.