why would they do that? they just got $22mil AQM Copper Inc. - Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 15, 2013) - AQM Copper Inc. (TSX VENTURE:AQM) (BVL:AQM) ("AQM" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement consisting of an aggregate of up to 36,363,636 common shares in the capital of the Company at a price of $0.11 per common share for total gross proceeds of up to $4,000,000 (the "Private Placement"). The proceeds from the Private Placement will be used for funding general working capital. Certain insiders of the Company may participate in the Private Placement and the Private Placement may also be subject to a finder's fee payable in accordance with industry rates.
The Private Placement is expected to close on or around October 31, 2013, subject to regulatory approval. All common shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months and one day from the closing date of the Private Placement.
On Behalf of the Board
Bruce L. Turner, President and Chief Executive Officer