CandenteCopper Corp. said July 19 that it has raised C$1 million in itsoversubscribed nonbrokered private placement.
The company will further increase the issued units toapproximately 11.1 million units, from the upsized offering of 7.2 million units, at 9 cents each.
Each unit will consist of 1 common share and 0.5 share purchasewarrant, exercisable for 1 additional share for two years at 15 cents each.
Approximately C$400,000 of the gross proceeds will be usedto further define drill targets on the Canariaco Sur copper-gold deposit and the copper-goldtarget, both in Peru.
The other C$600,000 will be used for working capital andgeneral corporate purposes.