Copper OneInc. said July 14 that it is selling units at 13 Canadian centsapiece for aggregate gross proceeds of up to C$2.6 million in a brokeredprivate placement.
Each unit will consist of one Copper One common share andone common share purchase warrant, with each whole warrant entitling the holderto acquire one Copper One common share at 20 cents apiece for a period of 24months following the closing date of the offering.
Delano Capital Corp. has been engaged on a "bestefforts" basis as lead agent for the offering, which is subject toapproval of the TSX Venture Exchange and is expected to close on or about July29. Before the closing date, Delano will have the option to increase theproceeds raised under the offering by up to an additional C$390,000 to raisethe aggregate gross proceeds up to about C$3.0 million.
The net proceeds will be used to fund further explorationand development activities at Copper One's Riviere Dore copper project in Quebec and forgeneral corporate purposes.
Copper One also said that it appointed Paul Pint to itsboard. Pint is the president of Sulliden Mining Capital Inc. and has more than twodecades of experience in capital markets.