Non-brokered offer funds exploration of Pancho Arias Mineral District
By Devika Patel
Knoxville, Tenn., Sept. 13 - Cascadero Copper Corp. said it plans a C$1.08 million non-brokered private placement of units.
The company will sell 6 million units of one common share and one warrant at C$0.18 per unit. Insiders will subscribe for up to 25% of the offering.
Each three-year warrant will be exercisable at C$0.25. The strike price is a 47.06% premium to the Sept. 12 closing share price of C$0.17.
Proceeds will be used to explore the Pancho Arias Mineral District in northwestern Argentina and to drill test two outstanding mineral porphyries and one high-grade gold system.
Based in Vancouver, B.C., Cascadero is a gold and copper exploration company.
| Issuer: | Cascadero Copper Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.08 million
|
| Units: | 6 million
|
| Price: | C$0.18
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 13
|
| Stock symbol: | TSX Venture: CCD
|
| Stock price: | C$0.17 at close Sept. 12
|
| Market capitalization: | C$22.24 million
|
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