Tiger Gold Corp press release
Copper Reef Mining Corporation Increases Private Placement to $2,104,000
TSXV - TSX Venture Exchange · Canada
Feb. 15, 2011 (TheNewswire.ca) --
Copper Reef Mining Corporation (CNSX: CZC)(the "Issuer") is pleased to announce that it has amended the terms of the previously announced Private Placement with Industrial Alliance (TSX:IAG.A) Securities and Secutor Capital Management Corporation (collectively, the " Agents"), to increase the size of the offering by an additional 550,556 Flow Through Units of the Company (the "FT Units").
The Offering has been oversubscribed and is expected to close later this month. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals. All securities to be issued under the Offering will be subject to a four-month statutory hold period in Canada.
The Issuer intends to utilize the proceeds from the Flow Through portion of this private placement for exploration mainly on its Manitoba properties, specifically the Smelter Claims immediately north of Hudbay Mineral's 777 deposit in the Flin Flon Main Camp, and the Woosey- Morgan Lake , and Sewell Lake properties in the Snow Lake Area, where new airborne electromagnetic anomalies where outlined in a VTEM carried out last winter. These are volcanogenic massive sulphide targets of copper zinc, silver and gold . A portion of the FT Units will also be earmarked for deep drilling on the Company's 100% owned Saskatchewan property at Hanson Lake where a 700m long copper- zinc target has been outlined in recent drilling. Proceeds from the sale of the non Flow Through Units will be used for corporate purposes and commissions.
The Issuer will rely upon the provisions of National Instrument 45-106, sections 2.3 and 2.5.
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
"signed"
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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