Copperbank Resources Closes Private Placement
12.05.2017 | Accesswire
VANCOUVER, May 12, 2017 - CopperBank Resources Corp. ("CopperBank") (CSE: CBK) (OTC PINK: CPPKF) is pleased to announce that the Company has completed a non-brokered private placement of 17,500,000 common shares at a price of $0.08 per share. An additional 5,000,000 common shares are being issued to Gianni Kovacevic, Chairman of the Company, in order to extinguish a $400,000 loan to the Company by Mr. Kovacevic (see NR# 02 dated February 24, 2017). The Company paid cash commissions under the placement consisting of $5,640.The private placement is subject to the approval of the Canadian Securities Exchange and the securities will be subject to a four month and one day hold period under securities laws.
The Company intends to use the net proceeds from the private placement for advancing its projects and for general working capital and corporate purposes.
On behalf of CopperBank Resources Corp.
"Gianni Kovacevic"
Executive Chairman
Address:
Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: gk@copperbankcorp.com
Website: www.copperbankcorp.com
Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although CopperBank believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. For more information on each of CopperBank and the risks and challenges of its businesses, investors should review the information circular dated September 12, 2014 and its other continuous disclosure filings that are available under CopperBank's profile at www.sedar.com.