New Issue: Canyon Copper wraps private placement of stock with C$55,000 tranche

By Devika Patel

Knoxville, Tenn., Aug. 31 - Canyon Copper Corp. said it raised C$55,000 in the third and final tranche of a C$1.25 million private placement of stock. The deal priced June 15 and the company raised C$681,000 in the first tranche on July 2 and C$514,000 in the second tranche on Aug. 10.

The company sold 29,875,000 shares at C$0.04 per share. It sold 17,025,000 shares in the first tranche and 12.85 million shares in the second tranche and 1,375,000 shares in the third tranche.

Proceeds will be used will be used to retire debt and for general corporate purposes.

Located in Vancouver, B.C., Canyon Copper is a mineral exploration company.

Issuer:	Canyon Copper Corp.
Issue:	Common shares
Amount:	C$1.25 million
Shares:	31.25 million
Price:	C$0.04
Warrants:	No
Pricing date:	June 15
Settlement date:	July 2 (for C$681,000), Aug. 10 (for C$514,000), Aug. 31 (for C$55,000)
Stock symbol:	OTCBB: CNYC
Stock price:	$0.10 at close June 15
Market capitalization:	$7.69 million

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