Global Copper Group Closes Tranche One of the Non-Brokered Private Placement
142-1146 Pacific Blvd.
Vancouver, BC V6Z 2X7 Tel: 604.620.7737 www.globalcoppergroup.com
NEWS RELEASE
TSX.V: ICU June 17, 2016
GLOBAL COPPER GROUP CLOSES TRANCHE ONE OF THE NON-BROKERED PRIVATE PLACEMENT
June 17, 2016, Vancouver, British Columbia – Global Copper Group Inc. (“Global Copper” and/or the “Company”) (TSX.V: ICU) is pleased to announce that it has closed the first tranche of its non-brokered private placement announced on June 8, 2016 through the issuance of 2,984,500 units for gross proceeds of CDN$149,225.
Each Unit consists of one previously unissued common share (a “Share”) and one-half common share purchase warrant (a “Warrant”) of the Issuer. One whole Warrant will entitle the holder, on exercise, to purchase one common share of the Issuer (a “Warrant Share”) at a price of $0.075 per share at any time until the close of business on the day which is eighteen months from the Tranche One Closing Date subject to an early triggering provision.
The early trigger provision will provide for the mandatory exercise of the warrants in the event the Issuer’s Shares trade on the TSX Venture Exchange for a period of 20 trading days at a price greater than $0.15 per share. Once that event has occurred and provided the statutory 4 month hold period on the Warrants has otherwise expired, the Company may give notice compelling the holder to exercise the Warrants within 21 days following the date notice is given failing which the Warrants will thereafter automatically expire.
The securities issued in Tranche One consisting of shares, warrants and any shares acquired by the holders on the exercise of the warrants are subject to a four month hold expiring on October 18, 2016.
As compensation for the placement of the units in Tranche One, Global Copper paid finder’s fees of $400 calculated at 8% of the amount placed by the eligible finder.
The proceeds of the Offering raised in Tranche One will be used by the Issuer for exploration of present and future mineral opportunities and general and administrative expenses.
About Global Copper Group Inc.
Global Copper Group Inc. is a publicly traded Canadian exploration company listed on the TSX-Venture Exchange (TSX-V: ICU) focused on copper exploration and development. The company plans to acquire, de-risk and advance copper assets in mining friendly jurisdictions prior to seeking joint venture partnerships.
On behalf of the Board of Directors
“Andreas Rompel”
______________________________ Dr. Andreas Rompel, President and CEO Global Copper Group Inc.
We seek safe harbor.
For additional information, please contact Dr. Andreas Rompel, President & CEO or Judy A. McCall, Corporate Secretary at: 604.620.7737. The company’s profile may also be viewed on www.sedar.com.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.”
Forward Looking Information
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. WARNING: The Company relies on litigation protection for `forward looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company. This news release does not constitute an offer to sell or a solicitation of an offer to sell 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.