Kincora Announces Private Placement Agreement with the European Bank for Reconstruction and Development
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR DISSEMINATION IN THE UNITED STATES
800–1199 West Hastings Street, Vancouver, BC V6E 3T5
Phone +1 604 283 1722 Fax +1 888 241 5996
Kincora Announces Private Placement
Agreement with the European Bank for
Reconstruction and Development
• $1.4m placement to the European Bank for Reconstruction and Development (“EBRD”)
• EBRD is one of the largest investors in Mongolia and will own 6.16% of Kincora
• $5.92m raised by Kincora via the recent two tranche private placements
• Drilling ongoing at East Tsagaan Suvarga (“East TS”) target
Vancouver, BC — September 22nd, 2017
Kincora Copper Limited (the “Company”, “Kincora”) (TSXV:KCC) is pleased to announce the
entering into of a subscription agreement (the “Subscription Agreement”) for a second tranche
non-brokered private placement of units (the “Units”) at C$0.33 per Unit to raise C$1,400,000
(the “Second Tranche Private Placement”) with the European Bank for Reconstruction and
Development (“EBRD”). The Second Tranche Private Placement follows closing of a First
Tranche on August 22nd 2017, with total gross funds raised being C$5.92m.
As per the Frist Tranche, each Unit will be comprised of one common share of the Company
(each, a “Share”) and one-half of a share purchase warrant, each whole warrant (each, a
“Warrant”) entitling the holder to acquire a further Share at C$0.445 for a period of two years.
The Subscription Agreement provides EBRD with certain pre-emptive rights to acquire further
shares of Kincora in future private placements and requires that EBRD consent to a disposition
of any interest in the Company’s Mongolian subsidiaries.
EBRD is a multilateral bank that promotes the development of the private sector and
entrepreneurial initiative in 37 economies across three continents. The Bank is owned by 66
countries as well as the EU and the EIB. EBRD investments are aimed at making the economies
in its regions competitive, inclusive, well-governed, green, resilient and integrated. EBRD is one
of the largest institutional investors in Mongolia and a large investor in the Southern Gobi
region, including being a syndicate member in the project financing of the underground
development of Oyu Tolgoi. Mongolia became an EBRD country of operations in October 2006
and since the beginning of its operations in Mongolia, the EBRD has committed through debt
and equity investments more than EUR 1.41 billion to the Mongolian private sector through 86
projects in sectors ranging from banking to manufacturing and from mining to agribusiness.
Sam Spring, President and CEO commented, "We are very pleased to welcome EBRD as a
shareholder. The Bank has unique knowledge of, and relationships in Mongolia and has
provided finance to assist the development of the two existing economic copper projects in the
Devonian belt. In the last two months, Kincora has attracted two new significant investors
who are well known in the industry and have undertaken extensive due diligence.
The Second Tranche from EBRD will support and accelerates the first modern systematic Tier
1 drill testing and district scale reconnaissance exploration program in the world-class, under-
explored Southern Gobi Devonian copper gold belt with drilling activities commenced at our
East TS target in the last month and shortly also to commence at the Bayan Tal target.”
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR DISSEMINATION IN THE UNITED STATES
800–1199 West Hastings Street, Vancouver, BC V6E 3T5
Phone +1 604 283 1722 Fax +1 888 241 5996
None of the securities comprising the Units have been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United States absent
registration or applicable exemption from the registration requirements. This press release does
not constitute an offer to sell or the solicitation of any offer to sell or the solicitation of an offer
to buy nor shall there be any sale of the Shares in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
Closing is subject to various Conditions Precedent of the executed Subscription Agreement
including receipt of approvals of the TSX Venture Exchange and execution by the Company and
its Mongolian subsidiaries of a project support agreement (the “Project Support Agreement”)
which provides, amongst other things, for the proceeds from the Second Tranche to be applied
to the Company’s exploration activities in Mongolia as agreed to by EBRD. All Shares and
Warrants issued in connection with the Private Placement will be subject to a four (4) month
hold period.
Upcoming Events
SEPTEMBER 28th – OCTOBER 6th, 2017
LONDON & NORTH AMERICAN - Non-Deal Roadshow
NOVEMBER 27-28th, 2017
LONDON - 121 Mining Investments
Recent news flow (all available at www.kincoracopper.com)
September 22rd - Proactive Investors interview: Kincora Announces Private Placement
Agreement with the European Bank for Reconstruction and Development
September 19th - Palisade Research – Cameron McRae: Copper Prices Are In Bull Market
Territory And Will Continue to Climb
Discussion on copper, Mongolia, Mongolian explorers including Kincora, and potential M&A in the
sector: http://palisade-research.com/copper-prices-are-in-bull-market-territory-and-will-continue-
to-climb/
August 31st - Mining Journal: Mining Journal Mongolian bellwether
http://kincoracopper.com/sites/default/files/content-
files/20170831_MJ_Mongolian%20Bellwether.pdf
August 31st - Drilling underway at brownfield open pit target
An updated presentation with further details on the East TS and Bayan Tal targets, including drill
program objectives: http://kincoracopper.com/investors/corporate-presentation
August 23rd - Proactive Investors interview: Kincora raises $4.5m to push ahead with
Mongolia drilling
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR DISSEMINATION IN THE UNITED STATES
800–1199 West Hastings Street, Vancouver, BC V6E 3T5
Phone +1 604 283 1722 Fax +1 888 241 5996
August 22nd - Completes issuance of shares and options
July 6th - Lead Order in Private Placement
June 8th - Expansion Update: Newly Issued License and Drops Ground
About Kincora
Kincora is a junior resource company engaged in the acquisition, exploration and development of mineral properties, with a focus on
copper-gold projects in Mongolia. For further information: www.kincoracopper.com.
For further information, please contact:
Sam Spring, President and Chief Executive Officer
[email protected] or +61431 329 345
Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of
applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections,
guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora
cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events
and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially
from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of
capital and financing and general economic, market or business conditions. The 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 is subject to
change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may
be required under applicable securities laws.
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.