Kincora Amends Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Kincora Amends Private Placement
Vancouver, BC – July 18th, 2016 – Kincora Copper Limited (TSX.V: KCC) (“Kincora” or the “Company”). Further to its news release of June 1, 2016, the Company announces that, subject to the acceptance of the TSX Venture Exchange, it proposes to amend the terms of its non-brokered private placement. As amended, the placement will be for up to $2,000,000 through the issuance of up to 6,666,667 shares at a price of $0.30 per share (previously $0.375 per share) on a post 10 for 1 consolidation basis.
Following shareholders having passed all resolutions of the recent Annual General and Special Meeting, as announced on July 14, 2016 the Company is planning a consolidation of its common shares on the basis of one post-consolidation share for 10 pre-consolidation shares, which will facilitate closing of the Private Placement.
Currently, a total of 314,124,452 shares are issued and outstanding. Accordingly, if the consolidation is put into effect, a total of 31,412,445 shares would be issued and outstanding, assuming there are no other changes in the issued capital of the Company.
About Kincora
Kincora Copper Limited is a junior resource company engaged in the acquisition, exploration and development of mineral properties, with a focus on copper-gold projects in Mongolia.
For further information on the Company, please visit www.kincoracopper.com and refer to its corporate presentation http://kincoracopper.com/investors/corporate-presentation.
For further information, please contact:
Sam Spring, President and Chief Executive Officer [email protected] +61431 329 345 http://www.kincoracopper.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
800 – 1199 West Hastings Street, Vancouver, BC V6E 3T5 - phone +1 604 283 1722 - fax +1 888 241 5996