Copper Creek Extends Closing of Previously Announced Private Placement
Copper Creek Gold Corp.
Suite 710 - 750 W Pender Street Vancouver, BC V6C 2T7 Telephone: (604) 662-3004 ext. 101 Fax: (604) 662-3063 Email: [email protected]
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NEWS RELEASE
TSXV Trading Symbol: CPV
COPPER CREEK EXTENDS CLOSING OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT VANCOUVER, BRITISH COLUMBIA – August 17, 2016 – Copper Creek Gold Corp. (“Copper Creek” or the “Company”; TSX-V: CPV) announces that it has requested and received TSX Venture Exchange approval to extend closing of the non-brokered private placement (“Private Placement”) previously announced June 17, 2016, as amended July 18, 2016. The Company will now schedule the closing on or before September 17, 2016.
The Private Placement consists of up to 4,000,000 units (“Units”) at a price of CDN $0.06 per share for gross proceeds of up to CDN $240,000. Each Unit will consist of one common share (“Common Share”) in the capital of the Company and one transferable share purchase warrant (“Warrant”). Each Warrant will entitle the holder thereof to purchase one additional Common Share in the capital of the Company for a period of eighteen months from the closing date (“Warrant Expiry Date”), at a purchase price of CDN $0.10 per Common Share. The Warrants are subject to an early acceleration clause which provides that if the closing price of Copper Creek’s Common Shares on the TSX Venture Exchange (following the expiry of the required statutory hold period), is equal to, or greater than CDN $0.15 for a period of 10 consecutive trading days, the Company may accelerate the Warrant Expiry Date to the date which is 30 days following the date upon which notice of the accelerated Warrant Expiry Date is provided by the Company to the holders of the Warrants. The Warrants will automatically expire if the Warrant holders do not exercise them within this 30 day period. The Company may pay finder’s fees on a portion of the Private Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange. All securities issued under the Private Placement will be subject to a four month and one day “hold period” under applicable Canadian securities legislation.
The Private Placement is subject to approval of the TSX Venture Exchange.
Proceeds from the Private Placement will be used for general working capital and to actively seek alternative business opportunities with respect to revitalizing Copper Creek.
About Copper Creek Gold:
Copper Creek Gold Corp. is a Canadian-based mineral exploration company which holds exploration properties in the Eskay Creek area of Northern British Columbia and the Blackwater area of Central British Columbia.
ON BEHALF OF THE BOARD Bing Jung Chief Executive Officer
FOR FURTHER INFORMATION CONTACT Bing Jung Chief Executive Officer Tel. 604-662-3004, ext. 101 [email protected] Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of Copper Creek are forward looking-statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Copper Creek’s plans or expectations include availability of capital and financing, general economic, market or business conditions, regulatory changes, timelines of government or regulatory approvals and other risks inherent in the oil and gas and mineral exploration industries and from the time to time in the filings made by Copper Creek. Copper Creek makes all reasonable efforts to update its corporate material, documentation and forward-looking information on a timely basis.