Carube Copper Announces Private Placement
Carube Copper Announces Private Placement
Toronto, Ontario--(Newsfile Corp. - August 5, 2020) -
Carube Copper Corp. (TSXV: CUC)
(the
"
Company
")
announces that, subject to TSX Venture Exchange ("
TSXV
") approval, it intends to raise
an aggregate of $2,200,000 by way of a non-brokered private placement of up to 40,000,000 common
shares (the "
Common Shares
") of the Company
at a price of $0.055 per share (the "
Offering
").
The proceeds of the Offering will be used for exploration at the Jasperoide project in Peru and general
working capital purposes. The actual allocation of net proceeds may vary depending on future
operations or unforeseen events or opportunities. The closing of the Offering is expected to occur on or
before August 13, 2020 or such other date as the Company may determine (the "
Closing Date
").
It is anticipated that a number of insiders including directors will be subscribing for a portion of the
Offering. Certain eligible persons (the "
Finders
") may receive a cash commission of up to 7% of the
gross proceeds of the Offering, and finder's warrants (each, a "
Finder's Warrant
") equal to 7% of the
Common Shares issued pursuant to the Offering. Each Finder's Warrant entitles the holder to purchase
Common Shares at a price of $0.055 per Common Share. All securities issued under the Offering will
be subject to a four-month and one day statutory hold period.
ABOUT CARUBE COPPER
Carube Copper is focused on creating substantive long-term value for its shareholders through the
discovery and development of large copper and gold deposits.
The Company's flagship project is the
highly underexplored 5,700 hectare Jasperoide high-grade copper-gold skarn and porphyry system
located in the prolific Andahuaylas-Yauri Porphyry-Skarn belt of southern Peru. Mineralization at
Jasperoide is hosted in similar geology to the nearby major mining operations at Las Bambas
(Minmetals), Constancia (Hudbay) and Antapaccay (Glencore).
Carube also holds a 100% interest in 5 licenses covering 207 km
2
of highly prospective copper-gold
terrain in Jamaica, a 100% interest in two porphyry copper-gold properties covering 337 km
2
within the
Cascade Magmatic Arc in southwestern British Columbia and a 100% interest in the 46 km
2
Stewart
Brook gold project in the Meguma gold belt of Nova Scotia.
Carube is seeking partners to further
develop these highly prospective Canadian and Caribbean assets.
Tony Manini, Executive Chairman +1 (647) 953-5924
Jeff Ackert, Vice President, Business Development • +1 (647) 957-2249 •
www.carubecopper.com
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.
DISCLAIMER & FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking statements" 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 uncertainties. Although these statements are based on
currently available information, Carube Copper Corp. provides no assurance that actual results will meet
management's expectations. Factors which 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:
Carube Copper hereby incorporates the entire disclaimer set forth on its
website at
http://www.carubecopper.com/uploads/1/6/5/2/16521880/disclaimers-and-forward-
statements.pdf
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/61115