This release is intended for distribution in Canada only and is not intended for distribution to United States
Copper Creek Gold Corp.
Suite 710 – 750 West Pender Street Vancouver, BC V6C 2T7 Telephone: (604) 662-3004 ext. 101 Fax: (604) 662-3063 Email: [email protected] Website: www.coppercreekgold.com
NEWS RELEASE
TSXV Trading Symbol: CPV
This release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or for dissemination in the United States
COPPER CREEK CLOSES FIRST TRANCHE AND INCREASES SIZE OF PRIVATE PLACEMENT VANCOUVER, BRITISH COLUMBIA – October 28, 2016 – Copper Creek Gold Corp. (“Copper Creek” or the “Company”; TSX-V: CPV) is pleased to announce that it has closed the first tranche of a non-brokered private placement financing (“Private Placement”) announced June 17, 2016, as extended on July 18, 2016, August 17, 2016, September 17, 2016 and October 18, 2016, by the issuance of an aggregate of 3,537,000 units (“Units”) at a purchase price of $0.06 per Unit for gross proceeds of $212,220. Each Unit consists of one common share (“Common Share”) in the capital of the Company and one transferable share purchase warrant (“Warrant”), each Warrant entitling the holder to purchase one Common Share in the capital of the Company on or before April 27, 2018 (the “Warrant Expiry Date”), at a purchase price of $0.10 per 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 $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 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.
All securities issued by the Company pursuant to the Private Placement are subject to a hold period of four months and one day and cannot be resold until February 28, 2017. In connection with the Private Placement the Company paid cash finder’s fees of $3,744, representing 8% of the gross proceeds received from subscribers introduced to the Company by such finder.
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.
The Company is pleased to announce that, due to investor demand, the Company has now increased the size of the Private Placement announced on June 17, 2016 to up to a maximum of 6,000,000 Units from the original 4,000,000 Units, at a price of $0.06 per Unit for gross proceeds of up to $360,000. All other terms of the Private Placement remain unchanged. Closing of the second tranche of the Private Placement will occur on or before November 18, 2016. Finder’s fees may be payable in connection with a portion of the Private Placement, in accordance with TSX Venture Exchange policies. The Private Placement remains subject to the approval of the TSX Venture Exchange.
About Copper Creek Gold:
Copper Creek Gold Corp. is a Canadian-based mineral exploration company which holds exploration properties in the Blackwater area of Central British Columbia.
ON BEHALF OF THE BOARD Bing Jung, Chief Executive Officer FOR FURTHER INFORMATION CONTACT Bing Jung, CEO Tel. 604-662-3004, ext. 101 [email protected] www.coppercreekgold.com 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.