Nevada Copper Corp. (TSX: NCU) is pleased to announce that the underwriters in the Company’s previously-announced public offering of units of the Company at a price of $0.15 per Unit elected to exercise their over-allotment option in full to purchase additional Units. The Over-Allotment Option closed and resulted in an aggregate of 23,790,000 Units being issued at the Offering Price for aggregate gross proceeds of approximately $3.6 million. Including the proceeds from the Over-Allotment Option, an aggregate of 667,503,553 Units were issued in the Offering for total aggregate gross proceeds of approximately $100 million.
Each Unit consists of one common share of Nevada Copper and one-half of one Common Share purchase warrant of Nevada Copper. Each full Warrant entitles the holder thereof to purchase one Common Share at a price of $0.20 per Common Share until January 28, 2022.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Nevada Copper
Nevada Copper is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine and processing facility, which is now transitioning to the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
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