Vancouver, British Columbia (FSCwire) - Canyon Copper Corp. (“Canyon”) (TSX-V: CNC) is pleased to announce a private placement financing of up to 10,000,000 Units consisting of one common share and one-half of one share purchase warrant at a price of $0.10 per unit (the “Offering”). Each warrant will entitle the holder to purchase one common share at $0.15 per share until the close of business on the day which is 24 months from the date of issue of the warrant.
Canyon intends to use the proceeds of up to $1,000,000 of the Offering to fund exploration expenditures on its portfolio of mineral properties and for general working capital.
Closing of the proposed Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval from the TSX Venture Exchange. Finders fees may be payable in connection with this private placement. All the securities issuable will be subject to a four-month hold period from the date of closing.
