Infinitum Copper Amends the Terms of the C$450,000 Private Placement
Infinitum Copper Amends the Terms of the C$450,000 Private
Placement
VANCOUVER, BC / ACCESSWIRE / March 6, 2024 / Infinitum Copper Corp.
(TSXV:INFI)(OTCQB:INUMF) ("Infinitum" or the "Company"). Further to the Company's
news release of March 5, 2024 (the "March 5, 2024 News Release"), this is to advise that the
Company has amended the terms of its private placement to raise gross proceeds of up to
C$450,000 through the issue of up to 22,500,000 units of the Company (the "Units") at a price of
C$0.02 per Unit (the "Offering").
Each Unit will be comprised of one common share of the Company (each, a "Common Share")
and one Common Share purchase warrant (each, a "Warrant"), with each Warrant entitling the
holder thereof to purchase one additional Common Share at a price of C$0.03 per Common
Share for a period of 36 months following the closing date of the Offering. The March 5, 2024
News Release had incorrectly stated the Warrant exercise period as 24 months following the
closing date of the Offering and has now amended to 36 months following the closing date of the
Offering.
The Company intends to use the net proceeds of the Offering for the establishment of mining
operations at the La Adelita project and general corporate purposes. It is important to note that
none of the proceeds will be utilized for Investor Relations Activities, and no payments will be
made to Non-Arm's Length Parties of the Issuer.
"We are looking forward to commencing mining operations at La Adelita. Not only will this
provide a revenue stream for the Company, but we will also gain valuable knowledge of the
mineralised body" commented Matt Hudson, CEO.
The Company also confirms no finder's fees will be paid in connection with the Offering.
All securities issued under the Offering are subject to a four month and one-day restricted resale
period from the date of the close in accordance with the policies of the TSX Venture Exchange
(the "TSX-V") and applicable securities laws.
The closing date of the Offering is expected to occur on or about March 31, 2024, and is subject
to certain conditions including, but not limited to, the receipt of all necessary approvals,
including the conditional approval from the TSX-V.
On Behalf of the Board of Directors of
INFINITUM COPPER CORP.
Matt Hudson
Chief Executive Officer
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.
About Infinitum Copper
Backed by a strong team of industry veterans, Infinitum Copper is advancing La Adelita project,
where the Company has an option to earn an 80% interest. The high-grade copper-silver-gold La
Adelita Project is located in Sonora and Sinaloa states in Mexico. La Adelita is a Carbonate
Replacement Deposit located in a mineralized district with a rich history. Infinitum Copper also
has an option to earn 25% interest in the Hot Breccia project in the heart of the Arizona Copper
Belt about 90km north of Tucson, AZ. The Hot Breccia project is prospective for porphyry
copper and copper skarn mineralization.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of Canadian
securities legislation. The forward-looking information contained in this press release represents
the expectations of the Company as of the date of this press release and, accordingly, is subject
to change after such date. Forward-looking information is based on, among other things,
opinions, assumptions, estimates and analyses that, while considered reasonable by the Company
at the date the forward-looking information is provided, are inherently subject to significant
risks, uncertainties, contingencies and other factors that may cause actual results and events to be
materially different from those expressed or implied by the forward-looking information. The
risks, uncertainties, contingencies and other factors that may cause actual results to differ
materially from those expressed or implied by the forward-looking information may include, but
are not limited to, risks generally associated with the Company's business, as described in the
Company's Filing Statement dated February 11, 2022. Readers should not place undue
importance on forward-looking information and should not rely upon this information as of any
other date. While the Company may elect to, it does not undertake to update this information at
any particular time except as required in accordance with applicable laws.
SOURCE: Infinitum Copper