TORONTO, ONTARIO--(Marketwired - Dec. 12, 2016) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Kombat Copper Inc. (TSX VENTURE:KBT) ("Kombat Copper" or the "Company") is pleased to announce that it has closed the first
tranche of its previously announced non-brokered private placement offering of common shares (the "First Tranche"). The
Company issued 2,254,524 common shares for aggregate gross proceeds of $1,014,535.
The Company intends to use the net proceeds of the First Tranche to fund further exploration efforts at the Company's Kombat
Mine, as described in the Company's news release dated November 10, 2016, as well as for general working capital
purposes.
The First Tranche is subject to final approval of the TSX Venture Exchange. The common shares issued pursuant to the First
Tranche will be subject to a four month and one day statutory hold period expiring on April 13, 2017. The Company did not pay any
finder's fees in connection with the First Tranche.
With certain members of Kombat Copper's management team and directors acquiring a portion of the First Tranche, their
participation will be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI
61-101"). The First Tranche will be exempt from the formal valuation and minority shareholder approval requirements of
MI 61-101.
Kombat Copper
Kombat Copper is a publicly traded Canadian exploration and development company with its core operations focused on copper
resources in Namibia, one of the world's most prospective copper regions, where it has substantial assets in place with
significant upside. The Company continues to hold an 80% interest in five mining licenses in the Otavi Mountain lands, an area of
Namibia particularly known for its high-grade copper deposits. Within these licenses are three past producing mines including the
Company's flagship property, the Kombat Mine.
Cautionary Notes
Neither 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 adequacy or accuracy of this release.
This news release may contain forward-looking statements. These statements include statements regarding the First Tranche,
the expected use of proceeds of the First Tranche and the Company's future plans and objectives. These statements are based on
current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because
of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements
or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume
any obligation to update any forward-looking statements, except as required by applicable laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the
United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to
U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.