Tickers: XTSX:WCC
Tags: Mining
Vancouver, BC / TheNewswire / October 27, 2017 - Consolidated Woodjam Copper Corp. ("Woodjam Copper") (TSX-V: WCC) announces that it intends to raise up to $300,000 by way of the following non-brokered private placements, subject to TSX Venture Exchange acceptance:
(a) up to $150,000 by way of a unit private placement at a price of $0.06 per unit, with each unit to consist of one common share and one-half (1/2) of a share purchase warrant, with each whole warrant to entitle the holder to purchase an additional common share at a price of $0.10 for a period of 1 years from closing; and
(b) up to $150,000 by way of a flow-through share private placement at a price of $0.08 per flow-through unit, with each unit to consist of one common share and one-half (1/2) of a share purchase warrant, with each whole warrant to entitle the holder to purchase an additional common share at a price of $0.10 for a period of 1 year from closing.
Warrants will be subject to the following acceleration provision: If the closing price for the common shares of the company as traded on the TSX Venture Exchange is equal to or greater than $0.30 per common share for 10 consecutive trading days occurring any time after the expiry of the four-month hold period, then the purchaser shall have until 4 p.m. Vancouver, B.C., time of the 30th calendar day after the company's news release announcing the achievement of the accelerated expiry date to exercise the share purchase warrants. The share purchase warrants shall expire on the earlier of the last day of the one-year exercise term or the accelerated expiry date. The company shall issue no other notice other than such news release.
The private placements are not subject to any minimum subscriptions, and certain insiders of the Company have agreed to participate, with full particulars of such participation to be included in the news release announcing the closing of these private placements. The proceeds will be used by Woodjam Copper to finance an exploration program at its 100% owned Woodjam North and Woodjam South projects and for general working capital.
The securities issued pursuant to these private placements will be subject to a hold period expiring four months and one day from the date of issuance.
On behalf of the board of directors of Consolidated Woodjam Copper Corp.;
Glen Garratt
Glen Garratt, P.Geo.,
Director
Consolidated Woodjam Copper Corp.
Contact: (604) 681-7913
Toll Free: 888-656-6611
About Woodjam Copper
Woodjam Copper trades on the TSX-V exchange and, based on its acquisition agreement with Gold Fields, owns a 100% interest in the Woodjam North and Woodjam South projects in British Columbia. Visit the Company's website at: http://www.woodjamcopper.com
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