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Kutcho Copper Announces Closing of Private Placement for Gross Proceeds of $2.2 Million

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Kutcho Copper Announces Closing of Private Placement for Gross Proceeds of $2.2 Million

 

 

 

 

 

Kutcho Copper Corp. (TSX-V: KC) (OTC: KCCFF)  is pleased to announce that it has closed its previously announced non-brokered private placement of 11,000,000 units at a price of $0.20 per Unit for total gross proceeds of C$2,200,000.

 

Each Unit is comprised of one common share of the Company and one-half of one transferable common share purchase warrant. Each Warrant entitles the holder thereof to acquire one Share at a price of $0.30 for a period of two years from the closing of the Private Placement. All securities issued under the Private Placement are subject to a hold period of four months and one day expiring on January 24, 2021.

 

In connection with the closing of the Private Placement, the Company paid finder’s fees of $85,155 and issued 425,775 non-transferable finder’s warrants to certain brokers in accordance with applicable securities laws. Each Finder’s Warrant entitles the holder to purchase one Share at a price of $0.30 per Share until the Expiry Date.

 

Proceeds of the Private Placement will be used to commence the Company’s feasibility study on the Kutcho Copper project and for general corporate and working capital purposes.

 

Posted September 25, 2020

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