Mr. Tony Manini reports
CARUBE COPPER ANNOUNCES PRIVATE PLACEMENT
Subject to TSX Venture Exchange approval, Carube Copper Corp. intends to raise an aggregate of $2.2-million by way of a non-brokered private placement of up to 40 million common shares of the company at a price of 5.5 cents per share.
The proceeds of the offering will be used for exploration at the Jasperoide project in Peru and general working capital purposes. The actual allocation of net proceeds may vary depending on future operations or unforeseen events or opportunities. The closing of the offering is expected to occur on or before Aug. 13, 2020, or such other date as the company may determine.
It is anticipated that a number of insiders, including directors, will be subscribing for a portion of the offering. Certain eligible persons may receive a cash commission of up to 7 per cent of the gross proceeds of the offering and finder warrants equal to 7 per cent of the common shares issued pursuant to the offering. Each finder warrant entitles the holder to purchase common shares at a price of 5.5 cents per common share. All securities issued under the offering will be subject to a four-month-and-one-day statutory hold period.
About Carube Copper Corp.
Carube Copper is focused on creating substantive long-term value for its shareholders through the discovery and development of large copper and gold deposits. The company's flagship project is the highly underexplored 5,700-hectare Jasperoide high-grade copper-gold skarn and porphyry system located in the prolific Andahuaylas-Yauri porphyry-skarn belt of southern Peru.
Carube also holds a 100-per-cent interest in five licences covering 207 square kilometres of highly prospective copper-gold terrain in Jamaica, a 100-per-cent interest in two porphyry copper-gold properties covering 337 square kilometres within the Cascade magmatic arc in southwestern British Columbia and a 100-per-cent interest in the 46-square-kilometre Stewart Brook gold project in the Meguma gold belt of Nova Scotia.
We seek Safe Harbor.
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