Infinitum Copper Announces C$1.5 Million Private Placement
Infinitum Copper Corp. (OTCQB:INUMF) has announced a private placement to raise up to C$1,500,000 by issuing 21,428,571 Units at C$0.07 per Unit. Each Unit includes one common share and one share warrant, allowing the purchase of an additional share at C$0.14 for 24 months. The funds will support ongoing exploration and drilling at the La Adelita project. The closing date is expected around March 31, 2023, pending necessary approvals. The project has shown promising results, including high-grade mineral intercepts, which could position Infinitum for significant growth in 2023.
- Private placement aims to raise C$1,500,000 to fund exploration activities.
- Successful previous exploration yielded high-grade intercepts, indicating potential for future discovery.
- Strong interest in resuming drilling at La Adelita, which encompasses promising mineralized zones.
- None.
VANCOUVER, BC / ACCESSWIRE / March 15, 2023 / Infinitum Copper Corp. (TSXV:INFI)(OTCQB:INUMF) ("Infinitum" or the "Company") is pleased to announce a private placement to raise gross proceeds of up to C
Each Unit will be comprised of one common share of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant" and together with the Common Share, the "Offered Securities"), with each Warrant entitling the holder thereof to purchase one additional Common Share at a price of C
The Company intends to use the net proceeds of the Offering for ongoing exploration and drilling at the Company's La Adelita project and for general corporate purposes.
"We are looking forward to resuming drilling at La Adelita. Our 2022 exploration program produced multiple high-grade intercepts which show the deposit is open to the north and at depth. By applying Peter Megaw's CRD district scale approach to our 6,500 hectare property 2022 surface work identified several new mineralised zones away from the known mineralised area. One trench produced 16.45g/t gold and
The closing date of the Offering is expected to occur on or about March 31, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX Venture Exchange.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Units will be offered for sale to purchasers resident in Canada, except Quebec, and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"). Because the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the securities issued in the Offering will not be subject to a hold period pursuant to applicable Canadian Securities laws.
There is an offering document relating to the Offering that can be accessed under the Company's profile at www.sedar.com and on the Company's website at https://infinitumcopper.com/. Prospective investors should read this offering document before making an investment decision. In the interests of clarity this Offering supersedes all previously announced capital raisings that have not already completed.
On Behalf of the Board of Directors of
INFINITUM COPPER CORP.
Matt Hudson
Chief Executive Officer
matt@infinitumcopper.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Infinitum Copper
Backed by a strong team of industry veterans, Infinitum Copper is advancing La Adelita project, where the Company has an option to earn an
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of Canadian securities legislation. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, are inherently subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated with the Company's business, as described in the Company's Filing Statement dated February 11, 2022. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
SOURCE: Infinitum Copper
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https://www.accesswire.com/743827/Infinitum-Copper-Announces-C15-Million-Private-Placement
FAQ
What is the purpose of Infinitum Copper's private placement?
What are the terms of the Units offered in the private placement?
When is the closing date for the private placement by Infinitum Copper?
What results were reported from the previous exploration at the La Adelita project?
How will the funds from the private placement be utilized?
