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Phoenix Copper Corp Arranges $750,000 Private Placement-Canada Stockwatch News


Tuesday, 8 Jan 2013 02:22pm EST 

Canada Stockwatch News reported that Phoenix Copper Corp. has arranged a non-brokered private placement of up to 10 million units at a price of 7.5 cents per unit to raise proceeds of up to $750,000. Each unit will consist of one common share and one common share purchase warrant with each unit warrant entitling the holder to acquire one additional common share at a price of 15 cents per share for the first year and 20 cents for the second year from closing. The unit warrants are subject to the right of the Company to accelerate the exercise period for the unit warrants if the common shares of the Company trade above 25 cents for a period of 10 consecutive trading days. The proceeds of the private placement will be allocated toward the drilling programs at the Company's Mine Canyon and Copper Joe projects as well as for general working capital purposes. The Company may pay finders' fees on the private placement proceeds to certain parties in accordance with the policies of and subject to the approval of the TSX Venture Exchange. 

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28 Jul 2014