Carube Announces Closing of $1.6M Private Placement
FOR IMMEDIATE RELEASE
OTTAWA, ONTARIO
March 2, 2017
CARUBE ANNOUNCES CLOSING OF $1.6M PRIVATE PLACEMENT
Carube Copper Corp. (CUC: TSXV) is pleased to announce that to TSXV final approval, it has closed its
previously announced private placement financing of 20,000,000 units (“ Units”) for gross proceeds of
$1,600,000.
Jeff Ackert, President & CEO, said
We are more than pleased with the response to the placement which was oversubscribed.
Now we can get to work and prepare to drill th e newly delineated copper/gold targets at
Bellas Gate. We will update our shareholders on these exciting developments in the coming
weeks.
Each Unit is comprised of one common share in the capital of the company and one half of one common
share purchase warrant. Each whole warrant is exercisable into one common share at a price of $0.15 per for
a period of two years from the closing date. The proceed s will be used for exploration and general working
capital purposes. The actual allocation of net proceeds may vary from the aforementioned uses depending on
future operations, unforeseen events or opportunities.
The closing of the placement constituted a related pa rty transaction within the meaning of Multilateral
Instrument 61-101 (“ MI 61-101 ”) as certain insiders of the compan y subscribed for an aggregate of
3,400,000 Units. The company is relying on the exemp tions from the valuation and minority shareholder
approval requirements of MI 61-101 contained in secti ons 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair
market value of the participation in the offering by insiders does not exceed 25% of the market capitalization
of the company, as determined in acco rdance with MI 61-101. The company did not file a material change
report in respect of the related party transaction at least 21 days before the closing of the private placement,
which the company deems reasonable in the circumstan ces in order to avail itself of the proceeds of the
private placement in an expeditious manner.
Certain eligible persons (the “Finders”) were paid cash commissions to taling $1,890 which represent 7% of
the proceeds raised from sub scribers introduced to the company by su ch Finders and were also issued an
aggregate of 23,625 broker warrants (the “ Broker Warrants”), each Broker Warrant entitles the holder to
acquire one unit at a price of $0.08 for a period of two years from the closing of the offering. The common
shares, warrants and Broker Warrants are subject to a hold period of 4 months and a day following the
closing.
PLEASE VISIT US AT THE PDAC IN TORONTO
INVESTORS EXCHANGE, MARCH 5-8: BOOTH #2711
CORE SHACK, MARCH 6-7 BOOTH #3101A
Contacts
Jeff Ackert, President and CEO • 1-613-839-3258 • [email protected]
Vern Rampton, Executive VP of Corporate Development • 1-613-839-3258 • [email protected]
Alar Soever, Chairman • 1-705-682-9297 • [email protected]
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P.O. Box 158 I 107 Falldown Lane I Carp, Ontario K0A 1L0
T: 613-839-3258 I F: 613-839-0464 I www.carubecopper.com
www.carubecopper.com
— END PRESS RELEASE —
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this release.
Carube Copper Corp. (CUC:TSXV) is a Canadian copper-gold e xploration company focused on
the discovery and development of copper and gold in both Jamaica and Canada. In Jamaica, where
it holds a 100% interest in 11 highly prospective licenses, totalling over 535 square kilometres,
Carube has successfully drilled a series of porphyry based inters ections extending well over 250m
at multiple locations. It has aggre ssive plans to drill a variety of extensively pre-vetted targets in
2017. In Canada, Carube holds a 100% intere st in three porphyry copper-gold-molybdenum
properties, totalling 492 square kilometres within the Tertiary-aged Cascade Magmatic Arc in
southwestern British Columbia.
DISCLAIMER & FORWARD LOOKING STATEMENTS
This news release includes certain “forward-looking statem ents” which are not comprised of historical facts.
Forward-looking statements are based on assumptions and address future events and conditions, and by their
very nature involve inherent risks and uncertain ties. Although these statements are based on currently
available information, Carube provides no assuran ce that actual results will meet management’s
expectations. Factors which could cause results to differ materially are set out in the Company’s documents
filed on SEDAR. Undue reliance should not be placed on “forward looking statements”.
IMPORTANT NOTICE: By reference herewith, Carube Copper in corporates into this release the entire
disclaimer set forth on its website at http://carubecopper.com/disclaimer.htm