Kutcho Copper Announces Closing of $4.1 Million Private Placement
15 Juni 2021 - 10:30PM
Kutcho Copper Corp. (TSXV: KC) (OTC: KCCFF)
(“Kutcho Copper” or the “Company”) announces that it has completed
a non-brokered private placement (the “Private Placement”) for
gross proceeds of $4,100,000. The Private Placement is comprised of
5,200,000 hard-dollar shares priced at $0.50 per share for gross
proceeds $2,600,000 and 2,500,000 flow-through shares priced at
$0.60 per share for gross flow-through proceeds of $1,500,000.
“This financing was led with a strategic
investor with proceeds targeting continued advancement of the
Kutcho copper-zinc project and for additional initiatives the
Company is currently pursuing in order to optimize the value of the
project,” stated Vince Sorace, President and CEO of Kutcho Copper
Corp. “We expect to provide updates with regards to continued
developments around the feasibility study in the near future.”
The proceeds from the flow-through shares will
be used to incur Canadian exploration expenditures (“CEE”) that
qualify as ‘flow-through mining expenditures’ (as such terms are
defined in the Income Tax Act (Canada) on the Company’s Kutcho high
grade copper-zinc project located in British Columbia.
The Private Placement is subject to the final
approval of the TSX Venture Exchange (“TSXV”). All shares issued
under the Private Placement bear a hold period of four months and
one day from the date of issuance. The Company will pay cash
finder’s fees in connection with Private Placement as permitted by
applicable securities laws and the rules of the TSXV.
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.
This news release contains certain statements
that may be deemed “forward-looking statements” with respect to the
Company within the meaning of applicable securities laws.
Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
“expect”, “plans”, “pursuing”, “advancement”, “in order to”, and
similar expressions, or that events or conditions “will”, “would”,
“may”, “could” or “should” occur. Although Kutcho Copper believes
the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees
of future performance, are subject to risks and uncertainties, and
actual results or realities may differ materially from those in the
forward-looking statements. Such material risks and uncertainties
include, but are not limited to, the Company’s ability to raise
sufficient capital to fund its obligations under its property
agreements going forward, to maintain its mineral tenures and
concessions in good standing, to explore and develop the Kutcho
project or its other projects, to repay its debt and for general
working capital purposes; changes in economic conditions or
financial markets; the inherent hazards associates with mineral
exploration and mining operations, future prices of copper and
other metals, changes in general economic conditions, accuracy of
mineral resource and reserve estimates, the ability of the Company
to obtain the necessary permits and consents required to explore,
drill and develop the Kutcho project and if obtained, to obtain
such permits and consents in a timely fashion relative to the
Company’s plans and business objectives for the projects; the
general ability of the Company to monetize its mineral resources;
and changes in environmental and other laws or regulations that
could have an impact on the Company’s operations, compliance with
environmental laws and regulations, aboriginal title claims and
rights to consultation and accommodation, dependence on key
management personnel and general competition in the mining
industry. Forward-looking statements are based on the reasonable
beliefs, estimates and opinions of the Company’s management on the
date the statements are made. Except as required by law, the
Company undertakes no obligation to update these forward-looking
statements in the event that management’s beliefs, estimates or
opinions, or other factors, should change.
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