COPPER LAKE RESOURCE

CPL
Delayed Quote. Delayed  - 10/04 12:23:03 pm
0.065CAD --.--%

Copper Lake Resources Ltd. announced that it expects to receive CAD 1.34625 million in funding

08/11/2022 | 12:00am
Copper Lake Resources Ltd. announced a non-brokered private placement of 8,313,890 non flow-through units at a price of CAD 0.09 per non flow-through unit and 5,980,000 flow-through units at a price of CAD 0.10 per flow-through unit for total gross proceeds of CAD 1,346,250 on August 11, 2022. Each non flow-through unit is comprised of one common share and one common share purchase warrant. Each flow-through unit is comprised of one flow-through common share and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one additional share at an exercise price of CAD 0.15 per common share for a period of 36 months from the closing date. The completion of the private placement and payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange. All securities issued pursuant to the private placement will have a hold period of four months and one day from the date of issuance. The company will pay a cash finders fee of CAD 61,688 and issue 665,195 finders' warrants, representing 7% cash and 7% finder's warrants. Each finders' warrant entitles the holder to acquire one additional share at an exercise price of CAD 0.15 per Common Share for a period of 36 months from the closing date.

On the same date, the company received CAD 200,000 in its first tranche. Certain insiders of the company purchased 200,000 flow-through units at a price of CAD 0.10 per flow-through unit in the first tranche.
S&P Capital IQ 2022
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