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 / October 19, 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 7,692,308 units (the "Units") at a price of C$0.13 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-half of one transferable Common Share purchase
warrant of the Company. Each whole warrant (each, a "Warrant") will entitle the holder to
purchase one additional Common Share of the Company for a period of two (2) years from
Closing at a price of $0.22.
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 finders' fee will consist of cash equal to seven percent (7.0%) of the Units sold
to investors introduced by such finder, and non-transferable share purchase warrants equal to
seven percent (7.0%) of such Units sold to investors ("Compensation Warrants"). The
Compensation Warrants will permit the holder to purchase one Common Share for a period of
two (2) years from closing at a price of C$0.13.
Proceeds from the Offering will be used to continue advancing exploration at La Adelita, Sonora
State, Mexico, advancing exploration at 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.
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.
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