CQ closes acquisition of Pakistan asset stake andVery good news... ...but very late at night time (again!). It seems that they don´t want to wake up the people to early for this for this very interesting coal story! Anyway, I´m in already.
DYODD!
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Cooper closes acquisition of 60% Pakistan asset stake
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Cooper Minerals Inc (C:CQ)
Shares Issued 44,019,220
Last Close 4/21/2011
.28
Monday April 25 2011 - News Release
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Mr. Simon Tam reports
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ACQUISITION OF THERMAL COAL PROPERTIES IN PAKISTAN AND CLOSEOF PRIVATE PLACEMENT
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Cooper Minerals Inc. has received acceptance from the TSXVenture Exchange with respect to the option agreement with Gul Asghar Khan toacquire a 60-per-cent interest in certain thermal coal properties in Pakistanpreviously announced in Stockwatch on Sept. 3, 2010. Consideration for theoption consists of cash payments totalling $500,000 (U.S.), incurringexpenditures of $2-million (U.S.) on the properties over a three-year periodand the issuance of four million common shares.
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The company has closed the transaction, paid $500,000 (U.S.)and issued four million shares to the optionor. All common shares issuedpursuant to this transaction are subject to a hold period expiring Aug. 22,2011.
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The company also completed the non-brokered private placementpreviously announced in Stockwatch on Sept. 3, 2010, through the issuance of 22million units at a price of five cents per unit for gross proceeds of $1.1-million.Each unit consists of one common share and one share purchase warrant having afive-year term for the purchase of one further common share of the company atthe exercise price of 10 cents per share in the first year, 15 cents per sharein the second year, 20 cents per share in the third year, and 30 cents in thefourth and fifth year. The company has paid a finder's fee of a total of$65,200 in cash. All of the securities issued under the private placement aresubject to a four-month hold period expiring Aug. 22, 2011.
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