Copper Fox Announces Extension of Private Placement
NEWS RELEASE
COPPER FOX ANNOUNCES EXTENSION OF PRIVATE PLACEMENT
Calgary, Alberta – May 31, 2017 – Further to a press release dated April 19, 2017, Copper Fox Metals
Inc. (“Copper Fox” or the ”Company”) (TSX-V: CUU – OTC: CPFXF) is continuing its plan s to
complete, subject to the approval of the TSX Venture Exchange, a non-brokered private placement to
raise up to $750,000 in gross proceeds (the “Offering”). The Offering will consist of up to 6,250,000
units (each a “Unit”) at a price of $0.12 per Uni t. Each Unit will consist of one common share in the
capital of the Company (a “ Common Share ”) and one whole common share purchase warrant (a
“Warrant”). Each Warrant will entitle the holder to purchase one Common Share for an exercise price
of $0.15 during the first 12 month period after the closing of the Offering and $0.17 during the second
12 month period after the closing of the Offering. In the event that the 20-day volume weighted average
price of the common shares listed on the TSX Venture Exchan ge is above $ 0.20, the expiry date of the
Warrants will be accelerated to a date that is 30 days after the first date such threshold is met.
The Offering is expected to close by the end of June , 2017. In accordance with applicable securities
legislation, securities issued pursuant to the Offering are subject to a hold period of four months plus one
day from the date of the completion of the Offering.
The net proceeds raised from the Offering will be used for ongoing activities and general corporate
purposes of the Company.
The Offering may include one or more subscriptions by insiders of the Company, which will include a
subscription by Mr. Ernesto Echavarria, a director, insider and a control person of the Company (as
defined by the policies of the TSX Venture Exchange) of a minimum of 3,750,000 Units.
Subscriptions completed by insiders in the Offering, including the subscription by Mr. Echavarria, may
constitute a “Related Party Transaction” under Policy 5.9 of the TSX Venture Exchange which adopts
Multilateral Instrument 61-101 (“MI 61-101”) as a policy of the TSX Venture Exchange. In completing
such transactions, Copper Fox intends to rely on the applicable exemptions from the valuation
requirement and minority security holder approval requirement s available under Sections 5.5(a) and
5.7(a) of MI 61-101, respectively, on the basis that the participation in the private placement by insiders
will not exceed 25% of the Company’s market capitalization.
About Copper Fox
Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange (TSX -V:
CUU) focused on copper exploration and development in Canada and the United States. The principal
assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being Northern Fox
Copper Inc. and Desert Fox Copper Inc. , are the 25% interest in the Schaft Creek Joint Venture with
Teck Resources Limited on the Schaft Creek copper -gold-molybdenum-silver project located in
northwestern British Columbia and a 100% ownership of the V an Dyke oxide copper project located in
Miami, Arizona. For more information on Copper Fox’s other mineral properties and investments visit
the Company’s website at http://www.copperfoxmetals.com.
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For additional information contact: Lynn Ball at 1-844-464-2820 or 1-403-264-2820.
On behalf of the Board of Directors
Elmer B. Stewart
President and Chief Executive Officer
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of
this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the
securities described herein in the United States. The securities described in this news release 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. This news release is not for distribution in the
United States or over United States newswires.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward -looking information” within the meaning of the Canadian securities laws.
Forward-looking information is generally identifiable by use of the words “believes,” “may,” “plans,” “will,”
“anticipates,” “intends,” “budgets”, “could”, “estimates”, “expects”, “forecasts”, “projects” and similar
expressions, and the negative of such expressions. Forward-looking information in this news release includes,
without limitation, statements about: t he expected size and terms of the Offering and the use of the proceeds
therefrom; the anticipated closing time of the Offering; the expected subscription by one or more insiders,
including Mr. Echavarria in the Offering; and the exemptions in MI 61 -101 intended to be relied upon by Copper
Fox in completing the Offering.
In connection with the forward -looking information contained in this news release, Copper Fox has made
numerous assumptions. Additionally, there are known and unknown risk factors which could cause Copper Fox’s
actual results, performance or achievements to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking information contained herein.
Known risk factors include the possibility that: approval for the Offering will not be obtained from the TSX
Venture Exchange; the Offering will not complete at the time or in the amount expected, or at all; Mr. Echavarria
will not subscribe for the number of Units currently expected, or at all; and the exemptions intended to be relied
upon by Copper Fox under MI 61-101 in completing the Offering may not be available.
A more complete discussion of the risks and uncertainties facing Copper Fox is disclosed in Copper Fox's
continuous dis closure filings with Canadian securities regulatory authorities at www.sedar.com. All forward -
looking information herein is qualified in its entirety by this cautionary statement, and Copper Fox disclaims any
obligation to revise or update any such forward -looking information or to publicly announce the result of any
revisions to any of the forward -looking information contained herein to reflect future results, events or
developments, except as required by law.