Copper Lake Resources Closes Financing
Trading symbols: TSX-V: CPL Frankfurt: W0I News Release No: 16-01-01
Copper Lake Resources Closes Financing
Vancouver, British Columbia – January 14, 2016 - Copper Lake Resources Ltd. (“the Company”) announces that it has closed its previously announced (see news release of September 29, 2015) Non- Brokered private placement. Under the private placement, the Company issued 198,000 units @ $0.05 per unit for gross proceeds of $9,900.
Each unit consisted of one common share and one share purchase warrant. Each whole share purchase warrant will entitle the holder to acquire an additional common share at a price of $0.10 for a period of 18 months.
The net proceeds of the Offering will be used to advance exploration activities at the Company’s exploration property and for general working capital.
All securities issued in conjunction with the Offering are subject to a four-month statutory hold period in Canada.
For further information, contact Ron Coombes at 604 724 2369.
On behalf of Copper Lake Resources Ltd.
Ronald Coombes President and CEO
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements". All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.
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.
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