Kutcho Copper Announces Closing of Private Placement For Gross Proceeds of $2,897,815 – Flow-Through Oversubscribed
13 April 2021 - 5:32PM
Kutcho Copper Corp. (TSXV: KC) (OTC: KCCFF)
(“
Kutcho Copper” or the
“
Company”) is pleased to announce that it has
closed its previously announced non-brokered private placement (the
“
Private Placement”) of hard dollar and
flow-through shares.
Under the hard dollar Private Placement, Kutcho
has raised gross proceeds of $1,000,000 on the sale of 2,000,000
shares at a price of $0.50 per common share. Under the flow-through
Private Placement which was over-subscribed, the Company has issued
3,329,500 flow-through shares at a price of $0.57 per common share
for gross proceeds of $1,897,815. The proceeds from the
flow-through shares will be used to incur Canadian exploration
expenditures that qualify as flow-through mining expenditures (as
such terms are defined in the Income Tax Act (Canada)).
All shares issued under the private placement
are subject to a hold period of four months and one day from
closing.
The Company paid finder’s fees in connection
with certain subscribers under the Private Placement. The Company
has paid cash fees of $156,199 and has issued 284,430 finder
warrants exercisable into common shares. Finder’s warrants in
connection with purchasers sourced for the flow-through Private
Placement are exercisable at $0.57 and finder’s warrants in
connection with purchasers sourced for the hard dollar Private
Placements are exercisable at $0.50 for a period of one year.
Vince SoracePresident & CEO, Kutcho Copper Corp.
For further information regarding Kutcho Copper Corp., please
email info@kutcho.ca or visit our website at www.kutcho.ca.
Cautionary Note Regarding Forward-Looking
Statements
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.
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