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Kincora Copper Ltd V.KCC

Alternate Symbol(s):  BZDLF

Kincora Copper Limited is a Canada-based mineral exploration company. The Company is engaged in the acquisition and exploration of exploration and evaluation assets. It is primarily focused on the copper-gold discoveries in the gold rich porphyry regions of the Lachlan Fold Belt (LFB) of Australia. The Company projects include Trundle Project, Fairholme Project, Cundumbul Project, Northern Junee-Narromine Belt Projects and Southern Gobi Belt Projects. Its Trundel Project is located approximately 420 kilometers (km) west of Sydney and 61 north-west of Parkes in Central West New South Wales (NSW) and covers an area of 167 square kilometers. Its Fairholme Project is located approximately 440km west of Sydney and 45km northeast of West Wyalong in Central West NSW and covers an area of 169 square kilometers. Its Northern Junee-Narromine Belt Projects include three licenses, which include Nyngan, Nevertire and Mulla, and covers an area of approximately 1,739.5 square kilometers.


TSXV:KCC - Post by User

Bullboard Posts
Post by wawahunt2on Sep 22, 2017 6:26am
58 Views
Post# 26729428

News ....MORE $$$$$$FOR DRILLS!

News ....MORE $$$$$$FOR DRILLS!

Kincora Announces Private Placement 

Agreement with the European Bank for Reconstruction and Development

 

 

  • $1.4m placement to the European Bank for Reconstruction and Development (“EBRD”)
  • EBRD is one of the largest investors in Mongolia and will own 6.16% of Kincora
  • $5.92m raised by Kincora via the recent two tranche private placements
  • Drilling ongoing at East Tsagaan Suvarga (“East TS”) target

 

Vancouver, BC — September 22nd, 2017

  

Kincora Copper Limited (the “Company”, “Kincora”) (TSXV:KCC) is pleased to announce the entering into of a subscription agreement (the “Subscription Agreement”) for a second tranche non-brokered private placement of units (the “Units”) at C$0.33 per Unit to raise C$1,400,000 (the “Second Tranche Private Placement”) with the European Bank for Reconstruction and Development (“EBRD”).  The Second Tranche Private Placement follows closing of a First Tranche on August 22nd 2017, with total gross funds raised being C$5.92m.  

  

As per the Frist Tranche, each Unit will be comprised of one common share of the Company (each, a “Share”) and one-half of a share purchase warrant, each whole warrant (each, a “Warrant”) entitling the holder to acquire a further Share at C$0.445 for a period of two years.  The Subscription Agreement provides EBRD with certain pre-emptive rights to acquire further shares of Kincora in future private placements and requires that EBRD consent to a disposition of any interest in the Company’s Mongolian subsidiaries.

  

EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 37 economies across three continents. The Bank is owned by 66 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well-governed, green, resilient and integrated. EBRD is one of the largest institutional investors in Mongolia and a large investor in the Southern Gobi region, including being a syndicate member in the project financing of the underground development of Oyu Tolgoi.  Mongolia became an EBRD country of operations in October 2006 and since the beginning of its operations in Mongolia, the EBRD has committed through debt and equity investments more than EUR 1.41 billion to the Mongolian private sector through 86 projects in sectors ranging from banking to manufacturing and from mining to agribusiness. 

  

Sam Spring, President and CEO commented, "We are very pleased to welcome EBRD as a shareholder. The Bank has unique knowledge of, and relationships in Mongolia and has provided finance to assist the development of the two existing economic copper projects in the Devonian belt. In the last two months, Kincora has attracted two new significant investors who are well known in the industry and have undertaken extensive due diligence.

  

The Second Tranche from EBRD will support and accelerates the first modern systematic Tier 1 drill testing and district scale reconnaissance exploration program in the world-class, under-explored Southern Gobi Devonian copper gold belt with drilling activities commenced at our East TS target in the last month and shortly also to commence at the Bayan Tal target.” 

None of the securities comprising the Units have been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.  This press release does not constitute an offer to sell or the solicitation of any offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.  

  

Closing is subject to various Conditions Precedent of the executed Subscription Agreement including receipt of approvals of the TSX Venture Exchange and execution by the Company and its Mongolian subsidiaries of a project support agreement (the “Project Support Agreement”) which provides, amongst other things,  for the proceeds from the Second Tranche to be applied to the Company’s exploration activities in Mongolia as agreed to by EBRD.  All Shares and Warrants issued in connection with the Private Placement will be subject to a four (4) month hold period.

 

  

  

Upcoming Events

    

SEPTEMBER 28th – OCTOBER 6th, 2017

LONDON & NORTH AMERICAN - Non-Deal Roadshow

      

NOVEMBER 27-28th, 2017

LONDON - 121 Mining Investments

 

Recent news flow   (all available at www.kincoracopper.com)

September 22nd   - Proactive Investors interview: Kincora Announces Private Placement Agreement with the European Bank for Reconstruction and Development. Please click to view Video Link

September 19th   - Palisade Research – Cameron McRae: Discussion on copper, Mongolia, Mongolian explorers including Kincora, and potential M&A in the sector: Copper Prices are in Bull Market Territory and will continue to climb

August 31st        - Mining JournalMining Journal Mongolian bellwether, Please click to view

August 31st   - Drilling underway at brownfield open pit target

An updated presentation with further details on the East TS and Bayan Tal targets, including drill program objectives: Kincora Presentation

August 23rd        - Proactive Investors interviewKincora raises $4.5m to push ahead with Mongolia drilling 

August 22nd        Completes issuance of shares and options

July 6th             - Lead Order in Private Placement  

June 8th            - Expansion Update: Newly Issued License and Drops Ground

  

About Kincora

Kincora is a junior resource company engaged in the acquisition, exploration and development of mineral properties, with a focus on copper-gold projects in Mongolia. For further information: www.kincoracopper.com.

For further information, please contact:

Sam Spring, President and Chief Executive Officer

sam.spring@kincoracopper.com or +61431 329 345

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