Coast Copper Announces Increase of Non- Brokered Financing to $1.665M
Coast Copper Announces Increase of Non-
Brokered Financing to $1.665M
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
./
TSX.V: COCO
VANCOUVER, BC
,
Nov. 16, 2021
/CNW/ -
Coast Copper Corp. ("Coast Copper" or the
"Company")
(TSXV: COCO) (formerly Roughrider Exploration Limited) is pleased to announce that
due to strong investor demand, it has increased its previously announced non-brokered private
placement (the "
Offering
") (see news release dated
November 5, 2021
) from 8,000,000 flow-
through units (the "
FT Units
") of the Company at a price of
$0.13
per unit for gross proceeds of up
to
$1,040,000
to up to 8,961,539 FT Units for gross proceeds of up to
$1,165,000
. The previously
announced 5,000,000 non flow-through units (the "
NFT Units
") of the Company at an issue price of
$0.10
per NFT Unit for gross proceeds of up to
$500,000
will remain unchanged. The composition
and terms of the NFT and FT Units has not changed so please refer to the Company's
November 5, 2021
news release for details.
The gross proceeds raised from the issuance of FT Units will be used by Coast Copper to incur
eligible Canadian exploration expenses ("
CEE
") that will qualify as FT mining expenditures as such
terms are defined in the Income Tax Act (
Canada
) related to the Company's projects in
British
Columbia
. The Company will renounce such CEE with an effective date of no later than
December
31, 2021
, with CEE to be incurred prior to
December 31, 2022
. The net proceeds from the issuance
of NFT Units will be used for working capital and general corporate purposes.
The Offering remains subject to the approval of the TSX Venture Exchange ("
Exchange
"). All
securities issued in the Offering will be subject to a statutory hold period of four months and a day
from the Offering's closing date. The Company may pay finders fees in accordance with the rules
and policies of the Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the
securities in
the United States
. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "
U.S. Securities Act
") or any state
securities laws and may not be offered or sold within
the United States
or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.
About Coast Copper Corp.
Coast Copper's exploration focus is the optioned Empire Mine Property, located on Northern
Vancouver Island, B.C., which covers three historical open pit mines and two past-producing
underground mines that yielded iron, copper, gold and silver. Coast Copper's other properties
include its 100% owned
Eldorado
, Gin and Bonanza properties located in the Golden Triangle of
northern B.C. which are adjacent to the Red Chris Mine, the Knob Hill NW Property located on
northern Vancouver Island and the 100% owned Sterling, Sandy and Home Brew properties which
are located in central B.C. Coast Copper's management continues to review precious and base
metals opportunities in western
North America
.
On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis
, Chief Executive Officer and Director
Neither 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any
information
regarding the proposed Transaction, private placement, board and management
changes,
as to
our strategy, projects, plans or future financial or operating performance, constitutes
"forward-looking statements." All statements, other than statements of historical fact, are to be
considered forward-looking statements. Forward-looking statements are necessarily based on a
number of estimates and assumptions that, while considered reasonable by Coast Copper, are
inherently subject to significant business, economic, geological and competitive uncertainties and
contingencies. Although Coast Copper believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, such statements are not guarantees of
future performance. Known and unknown factors could cause actual results to differ materially
from those projected in the forward-looking statements. Such factors include but are not limited to:
fluctuations in market prices, exploration and exploitation successes, continued availability of
capital and financing, changes in national and local government legislation, taxation, controls,
regulations, expropriation or nationalization of property and general political, economic, market or
business conditions. Many of these uncertainties and contingencies can affect our actual results
and could cause actual results to differ materially from those expressed or implied in any forward-
looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking
statements are not guarantees of future performance and, therefore, readers are advised to rely on
their own evaluation of such uncertainties. All of the forward-looking statements made in this press
release, or incorporated by reference, are qualified by these cautionary statements. We do not
assume any obligation to update any forward-looking statements.
SOURCE
Coast Copper Corp.
View original content:
http://www.newswire.ca/en/releases/archive/November2021/16/c9102.html
%SEDAR: 00032945E
For further information:
Adam Travis, CEO, Coast Copper Corp, 409 Granville Street, Suite 904,
Vancouver, B.C. V6C 1T2, Canada, P: 877-578-9563, E: [email protected]; NR21-10
CO: Coast Copper Corp.
CNW 08:05e 16-NOV-21