Gabriel Resources Ltd. press release
Copper Reef Mining Corporation Announces Non Brokered Private Placement
TSXV - TSX Venture Exchange · Gold · Silver · Copper · Canada
Dec. 7, 2009 (TheNewswire.ca) --
December 7, 2009.
Copper Reef Mining Corporation (CNSX: CZC)(the "Issuer") is announcing a non-brokered private placement which is anticipated to close on December 9, 2009. The Issuer intends to raise gross subscription proceeds in an amount equal to $700,000.00, consisting of such number of Class "A" Units as it shall determine, in its sole discretion, at a purchase price of $0.25 per Class "A" Unit.
Each Class "A" Unit shall consist of one Common Share (a "Common Share") of the issuer,
issued as a "flow-through" share pursuant to The Income Tax Act (Canada). The Issuer will rely upon the provisions of National Instrument 45-106, sections 2.3 and 2.5.
The Company intends to utilize the proceeds from this non-brokered private placement for the Issuer's drill programs at its Gold Rock gold property and its Mink Narrows base metal property in Manitoba and its Hanson Lake Base metal property in Saskatchewan.
Copper Reef has also received approval by the Manitoba's Mines Branch to receive a grant of $76,205 for each on its Gold Rock and Mink Narrow's Properties under its Mineral Exploration Incentive Program, for a total grant of $ 152,410.
ABOUT COPPER REEF MINING CORPORATION (CNQ:CZC)
The Corporation is a Canadian junior mineral exploration company with a specific focus on mineral properties in Northwest Manitoba and Northeast Saskatchewan, Canada. All of the Company's properties are currently at the exploration stage. The Company has no long-term debt and has assembled a portfolio of base metal and precious metal prospects, including strategic locations in the Provinces of Manitoba and Saskatchewan.
Copper Reef Mining Corporation
Stephen L. Masson M.Sc. P.Geo.
President & CEO
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
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