GREY:CKVLF - Post by User
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tradervik20on Dec 05, 2007 9:55pm
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Copper Creek arranges $1.12-million private
Copper Creek arranges $1.12-million privateMr. Bing Jung reports
PRIVATE PLACEMENT ANNOUNCED
Copper Creek Ventures Ltd. is arranging a two-part non-brokered private placement. The first component will consist of up to six million units at 12 cents per unit. Each unit will consist of one flow-through share and one two-year share purchase warrant entitling the purchaser to purchase one common share at an exercise price of 17 cents in the first year and 22 cents in the second year.
The second component will consist of up to four million units at 10 cents per unit. Each unit will consist of one common share and one two-year share purchase warrant entitling the purchaser to purchase one common share at an exercise price of 15 cents in the first year and 20 cents in the second year.
These offerings are subject to Toronto Stock Exchange and regulatory approval. A finder's fee is payable in cash or shares, or a combination of cash and shares. The proceeds from this offering will be allocated as follows:
1. The flow-through portion of the proceeds will be used for the company's continuing 2007 to 2008 work programs;
2. The non-flow-through portion of the proceeds will be used for acquisitions and operating costs.