Teuton Resources Corp. press release
Copper Reef Mining Corporation Closes Second Tranche of Non Brokered Private Placement
TSXV - TSX Venture Exchange · Copper · Gold · Silver · Zinc · Lead · Magnesium · Nickel · Cobalt · Bismuth · Molybdenum · Tungsten · Antimony · Arsenic · Platinum · Iron · Canada
Nov. 13, 2009 (TheNewswire.ca) --
Copper Reef Mining Corporation (CNSX: CZC)(the "Company") further to its news releases dated June 19, 2009, and October 9, 2009 announces that it has completed a second and final tranche closing pertaining to its non-brokered private placement. With both tranches, the Company has issued 7,530,000 Flow Through shares at a purchase price of 7 cents per share and 12,350,000 Non Flow shares at 5 cents for gross proceeds of $1,144,606. A full warrant is attached to each share, which entitles the holder of a Flow Through share to purchase one additional share for 20 cents for a period of 12 months and the holder of a Non Flow Through share to purchase one additional share of the company at 15 cents for a period of 12 months. No finder's fees were paid on these funds. Four directors took part in this placement for a total of 2,080,000 shares .
In compliance with Canadian securities law, all securities issued in connection with this second tranche closing are subject to a hold period which will expire March 14, 2010.
The Company intends to utilize the proceeds from this non-brokered private placement for general working capital purposes and for maintenance of property claims, including the Company's drill program at its Mink Narrows base metal property and Gold Rock gold property.
ABOUT COPPER REEF MINING CORPORATION (CNQ:CZC)
The Company 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
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.
Copyright (c) 2009 Thenewswire.ca - All rights reserved.