Toronto, Ontario--(Newsfile Corp. - July 15, 2019) - Carube Copper Corp. (TSXV: CUC) (the "Company") announces that, subject to TSX Venture Exchange ("TSXV") approval, it intends to raise an aggregate of $225,000 by way of a non-brokered private placement of up to 4,500,000 Units of the Company ("Units") at a price of $0.05 per Unit (the "Offering").
Each Unit will be comprised of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant shall be exercisable into one Common Share at a price of $0.08 per Common Share for a period of three years from the closing date of the Offering.
The proceeds of the Offering will be used for copper and gold exploration and for general working capital purposes. The actual allocation of net proceeds may vary depending on future operations or unforeseen events or opportunities. The closing of the Offering is expected to occur on or before July 25, 2019 or such other date as the Company may determine (the "Closing Date").
It is anticipated that a number of insiders including directors will be subscribing for a portion of the Offering. No commissions or fees are expected to be paid.
ABOUT CARUBE COPPER
Carube Copper is focused on creating substantive long-term value for its shareholders through the discovery and development of world class copper and gold deposits. Carube currently holds a 100% interest in 11 licenses covering 535 km2 of highly prospective copper-gold terrain in Jamaica, a 100% interest in three porphyry copper-gold properties covering 492 km2 within the Cascade Magmatic Arc in southwestern British Columbia and a 100% interest in the 46-square-kilometre Stewart Brook gold project in the Meguma gold belt of Nova Scotia. Carube is actively searching for additional high potential copper and gold properties to add to its portfolio.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
DISCLAIMER & FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Carube Copper Corp. provides no assurance that actual results will meet management's expectations. Factors which cause results to differ materially are set out in the Company's documents filed on SEDAR. Undue reliance should not be placed on "forward looking statements".
IMPORTANT NOTICE: Carube Copper hereby incorporates the entire disclaimer set forth on its website at Click Here