VANCOUVER, British Columbia, July 17, 2018 (GLOBE NEWSWIRE) — District Copper Corp. (“District Copper” or the “Company”) (TSX-Venture:DCOP) is pleased to announce that it has closed the first tranche of the flow-through shares portion of its non-brokered private placement announced on June 29, 2018 through the issuance of 6,470,352 flow-through shares for gross proceeds of CDN$549,979.92.
As compensation for the placement of flow-through shares in Tranche One, District Copper paid finder’s fees of cash commissions in the amount of $30,000 and issued 352,942 finder’s warrants both calculated at 6% of the amount placed by the eligible finders.
The securities issued in Tranche One consisting of flow-through shares, finder’s warrants and any shares acquired by the holders on the exercise of the finder’s warrants are subject to a four month hold expiring on November 13, 2018
The flow-through proceeds of the Offering raised in Tranche One will be used for the continued development of the Company’s British Columbia mineral resource properties including the Eaglehead property located in the Liard Mining Division.
About District Copper
District Copper is a Canadian company engaged in exploration for porphyry copper-gold-molybdenum deposits in northwestern British Columbia.
For further information, please visit the website at www.districtcoppercorp.com to view the Company’s profile or contact Jevin Werbes at 604-620-7737.
Jevin Werbes, President & CEO
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 adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States. The securities described in this news release 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. This news release is not for distribution in the United States or over United States newswires.
Cautionary Statement on Forward Looking Statement
Certain information contained in this news release, including information as to our strategy, projects, plans or future financial or operating performance and other statements that express management’s expectations or estimates of future performance, constitute “forward looking statements”. Actual results may differ materially from those indicated by such statements. All statements, other than historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking information in this news release includes, but is not limited to, statements about the exploration program at the Eaglehead project; the resource estimate at the Eaglehead project; and statements about District Copper’s strategy, future operations and prospects.
A more complete discussion of the risks and uncertainties facing District Copper is disclosed in District Copper’s continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and District Copper disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.