Caribou Copper Changes Name to Caribou King Resources Ltd. and Announces Private Placement Offering
22.12.2011 | Marketwire
VANCOUVER, Dec. 22, 2011 - Caribou Copper Resources Ltd. (the “Company“) (TSX VENTURE: CKR) is pleased to announce that the shareholders of the Company have approved, at the annual general and special meeting of the Company scheduled for December 12, 2011 and adjourned to December 16, 2011, the continuation of the Company from Ontario to British Columbia under the new name of “Caribou King Resources Ltd.“ (the “Name Change“).The Name Change is effective immediately and the Company's common shares will trade on the TSX Venture Exchange under the name Caribou King Resources Ltd. and under the same symbol of “CKR“. No other change has been made to the Company's share capital.
Additionally, the Company has arranged a non-brokered private placement of 1,500,000 flow-through units (“Units“) at a price of $0.13 per Unit for aggregate gross proceeds of $195,000 (the “Offering“). Each Unit will be comprised of one flow-through common share (“Share“) and one non-flow-through share purchase warrant of the Company (“Warrant“). Each Warrant will entitle the holder to purchase one common share of the Company (a “Warrant Share“) for a period of 18 months from the closing date at an exercise price of $0.18 per Warrant Share.
The Company may, in its sole discretion, pay a cash commission to the finders of the Company in an amount of 10% of the proceeds raised by such finder as part of this Offering.
The Offering is subject to TSX Venture Exchange approval.
The proceeds raised from the Offering will be used for the purposes of exploration in the Yukon.
ON BEHALF OF THE BOARD
Michael England
Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
Caribou Copper Resources Ltd.
Michael England, Director
1-604-683-3995 or Toll Free: 1-888-945-4770
1-604-683-3988 (FAX)
www.caribouking.com