Alta Copper Corp. is pleased to announce, subject to the approval of the Toronto Stock Exchange, that it has arranged a non-brokered private placement with Nascent Exploration Pty. Ltd., a wholly owned subsidiary of
Fortescue Metals Group Ltd. . The Private Placement will consist of the sale of 6,255,942 common shares at a price of Cdn$0.50 to raise gross proceeds of approximately Cdn$3,127,971. The Common Shares will be subject to a mandatory hold period ending four months and one day after issuance, in accordance with applicable securities law. There will be no warrants included in this Private Placement. As a result of the private placement Fortescue Metals will hold a 30.96% shareholder interest in Alta Copper. The Company intends to use the proceeds of the Pri...