Vancouver, British Columbia (FSCwire) - Canyon Copper Corp. ("Canyon") (TSX-V: CNC) announced today that, it has increased its previously announced private placement financing (see news release dated August 22, 2017) up to 15,000,000 Units (the “Units”) at a price of $0.10 per unit (the “Offering”) for total gross proceeds of up to $1,500,000.
As previously disclosed, each Unit will consist of one common share and one-half of one share purchase warrant. 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 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.
