VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 22, 2016) - Lowell Copper Ltd. (TSX VENTURE:JDL) ("Lowell Copper" or the "Company") announces it will undertake a non-brokered private placement financing (the "Financing") to issue 23,333,333 units of Lowell Copper (each a "Unit") at a price of C$0.12 per Unit for gross proceeds of $2,800,000. Each Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant (each whole warrant a "Warrant"). Each whole Warrant will entitle the holder thereof to acquire one additional common share of the Company for a period of five (5) years at an exercise price of C$0.20. The Company intends to use the proceeds raised in the Financing to further its projects in Ecuador and Chile as well as for general working capital purposes.
The Company would also like to announce that is has appointed Steven Krause as Chief Financial Officer ("CFO"). Mr. Krause is a Chartered Professional Accountant in British Columbia and co-founder of Avisar Chartered Accountants, a chartered professional accounting firm which specializes in providing business advisory, tax and accounting services to public and private enterprises. Lowell Copper would like to thank Sam Wong for his services as CFO to the Company over the past 3 years.
About Lowell Copper
Lowell Copper is a copper exploration and development focused company led by J. David Lowell and is listed on the TSX-V. The Company was founded to leverage the current market conditions and build a portfolio of economic copper projects through a combination of exploration, mergers and acquisitions by utilizing the considerable experience and success of management and directors of the Company.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACEY OR ACCURACY OF THIS RELEASE.
Forward-Looking Statements
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Lowell Copper to control or predict, that may cause Lowell Copper's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out here in, including but not limited to: the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the either company's expectations; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. Lowell Copper does not undertake an obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.