News Release
Copper Canyon Announces Financing
Cranbrook, BC; March 2, 2010: Copper Canyon Resources Ltd. (TSX-V:CPY) (the ?Company? or ?Copper Canyon?) announces that the Company intends to complete a brokered and non-brokered private placement to arms-length investors of the Company.
Application will be filed with the TSX Venture Exchange (TSX-V) to sell up to 750,000 Flow-Through (?FT?) shares at a price of $.40 CDN per share.
A 10% over allotment will be reserved, comprised of an additional 75,000 FT shares.
A 10% commission or finders fee will be paid, either in cash or through the issuance of Non-Flow-Through common shares at a deemed price of $0.40 per share, to registered dealers or arms-length third parties involved in the financing.
Maximum gross proceeds of the offering, including the 10% over allotment, are expected to be $330,000 CDN. Proceeds from the sale of the shares will be used to advance exploration at various British Columbia and Yukon projects held by Copper Canyon. These expenditures will qualify as Canadian Exploration Expenses (?CEE?) as defined in the Income Tax Act (Canada) and will be renounced to FT share subscribers for the 2010 taxation year. The financing is expected to close in mid-March.
About Copper Canyon
Copper Canyon Resources was created by way of a Plan of Arrangement on June 9, 2006. Shareholders of Eagle Plains Resources Ltd. approved the plan to reorganize the company?s mineral property assets in an effort to maximize shareholder value. Under the terms of the arrangement, three of Eagle Plain?s projects: Copper Canyon, Severance and Abo (Harrison) Gold, were transferred into Copper Canyon on a one-for-one share basis.
On behalf of the Board of Directors
Signed
?Tim J. Termuende?
President and CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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VanEck Vectors Global Alternative Energy ETF
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PRODUCTEUR |
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CODE : EPL.V |
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ISIN : CA2699062022 |
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Eagle Plains Res. est une société d’exploration minière d'or et d'uranium basée au Canada. Eagle Plains Res. détient divers projets d'exploration au Canada. Son principal projet en production est YELLOWJACKET au Canada et ses principaux projets en exploration sont BRONCO, BLACK DIAMOND, HOT PUNCH, IRON RANGE, AB, KARIN LAKE, KULYK LAKE, WILDHORSE, IRONMIKE, PELLY MOUNTAIN, PROSPERITY, MACKENZIE VALLEY ZINC, FINEX, ZNK, TITAN, DRAGON LAKE, EAGLE LAKE, ELSIAR (LCR), ICE RIVER, ACACIA, BOOTLEG, COYOTE CREEK, HALL LAKE (CRETIN), KOKANEE CREEK, NORTH FINDLAY, SOUTH FINDLAY, FINLAY GREENLAND CREEK, KALUM, RUSTY SPRINGS, GAYNA RIVER, BOHAN et K9 au Canada. Eagle Plains Res. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 4,3 millions (3,1 millions US$, 2,9 millions €). La valeur de son action a atteint son plus haut niveau récent le 02 juin 2006 à 1,95 , et son plus bas niveau récent le 08 janvier 2016 à 0,05 . Eagle Plains Res. possède 47 442 200 actions en circulation. |