Coast Copper Announces Non-Brokered Financing of up to $600,000 /NOT FOR DISTRIBUTION TO
Coast Copper Announces Non-Brokered
Financing of up to $600,000
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
./
TSX.V: COCO
VANCOUVER, BC
,
May 8, 2024
/CNW/ -
Coast Copper Corp. ("Coast Copper" or the
"Company")
(TSXV: COCO) announces it is undertaking a non-brokered private placement
comprised of up to 10,000,000 units of the Company (the "
Units
") at an issue price of
$0.06
per Unit
for gross proceeds of up to
$600,000
(the "
Offering
").
Each Unit will consist of one common share in the capital of Coast Copper and one non-transferable
common share purchase warrant, with each warrant entitling the holder to acquire an additional
common share of the Company at an exercise price of
$0.12
per share with an expiry date ("
Expiry
Date
") of 36 months after completion of the Offering (the "
Closing Date
").
The gross proceeds raised from the Offering will be used:
to make the final payment due
September 2024
in relation to the Company's optioned Empire
Mine property mineral claims;
to conduct field work on the newly acquired Sully property located adjacent to the PJX
Resources Inc.'s
Dewdney Trail
property¹ (see news release
February 12, 2024
);
to continue Coast Copper's strategic mineral property acquisition program; and
for working capital and general corporate purposes.
The Company may pay finders fees in accordance with the rules and policies of the TSX Venture
Exchange (the "
Exchange
"). The Offering remains subject to customary closing conditions including
the approval of the Exchange. All securities issued in the Offering will be subject to a statutory hold
period of four months and a day from the Closing Date.
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, BC, 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 Sully property located in southeastern BC, Knob Hill NW property located on
northern Vancouver Island, its Home Brew property in central BC, and its
Scottie West
property
located in the "Golden Triangle" of northern BC. Coast Copper's management team 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
Cautionary Notes
¹ This news release may contain information about adjacent properties on which Coast Copper has
no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are
not indicative of mineral deposits on the Company's properties.
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/May2024/08/c7806.html
%SEDAR: 00032945E
For further information:
, please contact: Adam Travis, CEO, Coast Copper Corp., 409 Granville
Street, Suite 904, Vancouver, B.C. V6C 1T2, Canada, P: 877-578-9563, E:
[email protected], NR24-03
CO: Coast Copper Corp.
CNW 08:05e 08-MAY-24