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Provider: Reuters Investment Profile
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Provider: Reuters Investment Profile
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Provider: GlobalData
$250.00
Provider: GlobalData
$125.00

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Gespeg Copper Resources Inc Closes Brokered Private Placement


Thursday, 20 Dec 2012 02:44pm EST 

Gespeg Copper Resources Inc announced that it has completed its brokered private placement (the Private Placement) for gross proceeds of $705,000. The Company issued a total of 100 units (the Units), 405 flow-through units (the Flow-Through Units) and a further 800,000 flow-through common shares (the Flow-Through Shares and together with the Units and the Flow-Through Units, the Securities). The net proceeds from the Flow-Through Shares and the flow-through share portion of the Flow-Through Units will be used by the Company to incur Canadian Exploration Expenses within the meaning of the Income Tax Act (Canada) (the "ITA"), which will qualify as "flow-through mining expenditures" for the purposes of the ITA, related to the exploration of Gespeg's mineral properties in Quebec. The proceeds from the sale of the non flow-through shares will be used to fund the continued exploration of Gespeg's mineral properties in Quebec and for general working capital purposes. 

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