Each Unit will consist of one common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share at an exercise price of
The Private Placement will be subject to the approval of the TSXV, and all securities issued in connection with the Private Placement will be subject to a regulatory hold period of four months and one day from the closing of the Private Placement.
As a result of the proposed purchase of Units by these directors, insider participation will be in excess of 25% of the Private Placement. The issuance of securities to insiders pursuant to the Private Placement is considered to be a 'related party transaction' subject to the requirements of TSXV Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101'). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that amount invested in the private placement by the insiders will not exceed 25% of the Company's market capitalization.
About
CPAU is an exploration company focused on developing projects within the emerging, mineral rich mining regions of
Contact:
Tel: 604-773-1467
Email: jeremyy@copaur.com
This news release contains forward looking information under Canadian securities laws (referred to as forward-looking statements). These statements relate to future events or the Company's future performance. Forward looking statements in this news release include references to the Private Placement, including the requirement for TSXV approval and the Company's plans for using the proceeds from the Private Placement, as well as expected exploration results. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by the forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated in the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revised any forward-looking statements whether as a result of new information, future even
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