Atacama Copper Announces Closing of Private Placement Financing
Atacama Copper Announces Closing of Private
Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - June 16, 2023) - Atacama Copper Corporation (TSXV:
ACOP) ("
Atacama Copper
" or, the "
Company
")
is pleased to announce that on June 15, 2023 (the
"
Closing Date
"), it closed a non-brokered private placement of 1,567,332 common shares in the capital
of the Company ("
Common Shares
") at a purchase price of $0.18 per Common Share for gross
proceeds of $282,119.76 (the "
Offering
"). The gross proceeds of the Offering will be used for general
corporate purposes.
A finder's fees consisting of an aggregate cash commission of $5,249.99 and 29,167 warrants to
purchase Common Shares ("
Finder's Warrants
") was paid by the Company in connection with the
Offering. The finder's fee represents 7.0% of the proceeds from and 7.0% of the Common Shares
issued to certain subscribers introduced to the Company by the finder. Each Finder Warrant will entitle
the holder thereof to acquire one Common Share at a price of $0.30 for a period of 24 months from the
Closing Date.
The securities issued in connection with the Offering are subject to a statutory hold period of four months
plus one day from the Closing Date, being October 16, 2023, in accordance with applicable securities
legislation.
Insiders of the Company participated in the Offering. Pursuant to Multilateral Instrument 61-101
–
Protection of Minority Security Holders in Special Transactions
("
MI 61-101
"), the Offering
constitutes a "related party transaction" given the fact that insiders of the Company subscribed for
Common Shares. The Company is relying on exemptions from the formal valuation and minority approval
requirements of MI 61-101, specifically: (i) the valuation requirement of MI 61-101 by virtue of the
exemption contained in Section 5.5(a) of MI 61-101, and (ii) the minority shareholder approval
requirement of MI 61-101 by virtue of the exemption contained in Section 5.7(b) of MI 61-101.
A material change report was not filed by the Company at least 21 days before the closing of the
Offering, as the Company was seeking to close expeditiously to confirm funds for the Offering. In the view
of the Company, this approach is reasonable in the circumstances.
The Company has requested final approval from the TSX Venture Exchange in connection with the
Offering.
For more information concerning Atacama Copper, please refer to the Company's profile on the SEDAR
website at
www.sedar.com
.
About Atacama Copper Corporation
Atacama Copper Corporation is a resource company focusing on acquiring, exploring, and developing
copper properties in Chile and elsewhere in the Americas. It is committed to advancing the exploration
and development of the Placeton and El Cofre projects while looking to increase its asset portfolio
through the acquisition and development of other high-value copper exploration, development, and
production opportunities. Atacama Copper's Placeton project is a large porphyry copper target located
between the Relincho and El Morro Copper-gold deposits of the Nueva Union joint venture between
Teck and Newmont Mining.
Additional Information – Please Contact
For more information, please contact:
Tim Warman
Chief Executive Officer and Director
Atacama Copper Corporation
Email:
Cautionary Statements
This news release contains "forward-looking information" and "forward-looking statements"
(collectively, "forward-looking statements") within the meaning of the applicable Canadian securities
legislation. All statements, other than statements of historical fact, are forward-looking statements and
are based on expectations, estimates and projections as at the date of this news release. Any
statement that involves discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions, future events or performance (often but not always using
phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate",
"plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such
words and phrases or stating that certain actions, events or results "may" or "could", "would", "might"
or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-
looking statements.
In this news release, forward-looking statements relate to, among other things, the anticipated use of
proceeds from the Offering and receipt of final approval from the TSX Venture Exchange. Various
assumptions or factors are typically applied in drawing conclusions or making the forecasts or
projections set out in forward-looking information. Those assumptions and factors are based on
information currently available to the Company. The material facts and assumptions include the
intended use of proceeds remaining in the best interests of the Company. The Company cautions the
reader that the above list of risk factors is not exhaustive. The forward-looking information contained in
this release is made as of the date hereof and the Company is not obligated to update or revise any
forward-looking information, whether as a result of new information, future events or otherwise, except
as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained
herein, investors should not place undue reliance on forward-looking information. The foregoing
statements expressly qualify any forward-looking information contained herein.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any
failure to comply with this restriction may constitute a violation of U.S. Securities Laws.
THE SECURITIES OFFERED HAVE NOT BEEN 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 AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS.
THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE
SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE
UNLAWFUL.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/170280