DNT STRATEGIC INVESTMENT FORTESCUE AND LIND PARTNERS CLOSED Candente Copper close $1.1-million private placement
2021-08-25 11:20 ET - News Release
STRATEGIC INVESTMENT BY FORTESCUE AND LIND PARTNERS CLOSED
Candente Copper Corp. has completed the non-brokered private placement and raised gross proceeds of approximately $1.1-million with two subscribers. The Financing was subscribed for equally by Nascent Exploration Pty Ltd., a wholly owned subsidiary of Fortescue Metals Group Ltd. (collectively "Fortescue") and Lind Global Fund II, LP, an institutional investment fund managed by The Lind Partners, LLC (collectively "Lind").
A total of 8,800,000 common shares of the Company (the "Shares") were sold at a price of Cdn$0.125 to raise gross proceeds of Cdn $1,100,000. The Shares are subject to a statutory 4 month and one day hold period. The proceeds of the Private Placement are to be used to advance the Canariaco Project as well as for general corporate and working capital purposes.
"Funding from the private placement will continue to unlock value for shareholders as we are now well financed to complete an updated Preliminary Economic Assessment ("PEA") which will better define opportunities with potential to lower initial capital expenditures, operational costs and enhance our environmental, social and governance practices as recently identified by Ausenco. The funds will also allow us to further advance our permitting for drilling and our community work," commented Joanne Freeze, CEO.