Infinitum Copper Announces up to C$1,000,000 Private Placement
Infinitum Copper Announces up to C$1,000,000 Private Placement
VANCOUVER, BC / ACCESSWIRE / June 27, 2022 / Infinitum Copper Corp.
(TSXV:INFI)(OTCQB:INUMF) ("Infinitum" or the "Company") is pleased to announce that it
intends to raise up to C$1,000,000 by way of a non-brokered private placement financing
consisting of up to 5,000,000 units (the "Units") at a price of C$0.20 per Unit, for gross proceeds
of up to C$1,000,000 (the "Offering"). Each Unit will consist of one common share of the
Company (each, a "Common Share") and one transferable Common Share purchase warrant
(each, a "Warrant"). Each Warrant will entitle the holder to purchase one additional Common
Share for a period of two (2) years from closing at a price of C$0.45.
"Our initial exploration efforts at La Adelita project in Sonora Mexico have helped us validate
the project as a true district scale opportunity with numerous high-grade copper and gold targets.
This financing will allow us to expand our plan and pursue some of these new targets. At our
recently acquired Hot Breccia project in Arizona we will continue to move aggressively to get
the project drill ready" stated Steve Robertson, CEO of Infinitum Copper.
Proceeds from the Offering will be used to fund exploration at La Adelita project in Sonora
State, Mexico and the Hot Breccia project in Arizona State, USA, and for general corporate
purposes. The securities issued in connection with the Offering, including any Common Shares
issued upon exercise of the Warrants and Compensation Warrants, will be subject to a four
month restricted resale period and applicable securities legislation hold periods outside of
Canada from the closing date.
A finder's fee may be paid in connection with the placement to finders as determined by mutual
agreement between the Company and the finders and subject to TSX Venture Exchange ("TSX
V") approval. The finder's fee will consist of cash equal to seven percent (7.0%) of the Units sold
to investors introduced by such finder, and nontransferable share purchase warrants equal to
seven percent (7.0%) of such Units sold to investors ("Compensation Warrants"). The
Compensation Warrants will permit the purchase of one Common Share for a period of two (2)
years from closing at a price of C$0.20.
Completion of the Offering will be subject to all necessary approvals, including the approval of
the TSX-V. There can be no assurance that the Offering will be completed as proposed or at all.
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Click here to watch the video of La Adelita
For more information, please contact Anna Okopnaya, Manager of Investor Relations for
Infinitum Copper at [email protected], +525534417980, or Steve Robertson, President
and CEO of Infinitum Copper, at [email protected], (604) 409-3917.
On Behalf of the Board of Directors of
INFINITUM COPPER CORP.
Steve Robertson
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 and is subject to a 2% NSR. La
Adelita is a high-grade copper-gold-silver, Carbonate Replacement Deposit located in a
mineralized district with a rich history. Infinitum also has an option to earn 100% interest in the
Hot Breccia project in the heart of the Arizona Copper Belt, about 90 km 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