Units sold at C$1.12 apiece; deal proceeds used for feasibility study
By Devika Patel
Knoxville, Tenn., July 20 - Copper Fox Metals Inc. said it concluded a C$4.48 million private placement of units.
The company sold 4 million units of one common share and one warrant at C$1.12 per unit, with each warrant exercisable at C$1.25 until July 20, 2013. The strike price reflects a 4.17% premium to the July 19 closing share price of C$1.20.
Proceeds will be used for the feasibility study on the Schaft Creek deposit and general operating expenses.
Copper Fox is a copper resource company based in Calgary, Alta.
| Issuer: | Copper Fox Metals Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$4.48 million
|
| Units: | 4 million
|
| Price: | C$1.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | July 20, 2013
|
| Warrant strike price: | C$1.25
|
| Settlement date: | July 20
|
| Stock symbol: | TSX Venture: CUU
|
| Stock price: | C$1.20 at close July 19
|
| Market capitalization: | C$461.69 million
|
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