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Copper Mountain Closes C$17.25 Million Bought Deal Offering of Common Shares

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Copper Mountain Mining Corporation (TSX: CMMC) (ASX: C6C)  is pleased to announce that it has closed its previously announced bought deal offering of common shares led by Industrial Alliance Securities Inc. with a syndicate of underwriters including Cormark Securities Inc., National Bank Financial Inc., BMO Capital Markets and Haywood Securities Inc. Pursuant to the Offering, the Company has raised gross proceeds of C$17,250,002 through the issuance of 15,000,002 common shares of the Company at a price of C$1.15 per Common Share, including C$2,250,000 worth of Common Shares issued pursuant to the exercise by the Underwriters of the full amount of the over-allotment option.

 

The Common Shares were offered by way of a short form prospectus dated November 23, 2020 filed in all provinces and territories of Canada except for Quebec and were also offered by way of private placement in the United States. The Prospectus is available on the Company’s profile on www.sedar.com.

 

The net proceeds of the Offering will be used for regional exploration on the Company’s prospective land package in Australia, advancing the development of the Eva Copper Project and general corporate purposes as more fully described in the Prospectus.

 

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

About Copper Mountain Mining Corporation

 

Copper Mountain’s flagship asset is the 75% owned Copper Mountain mine located in southern British Columbia near the town of Princeton. The Copper Mountain mine currently produces approximately 90 million pounds of copper equivalent per year. Copper Mountain also has the development-stage Eva Copper Project in Queensland, Australia and an extensive 2,100 km2 highly prospective land package in the Mount Isa area. Copper Mountain trades on the Toronto Stock Exchange and Australian Stock Exchange.

 

Posted November 26, 2020

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