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August 21, 2014 --- Vol. 08, No. 34August 2014

Yukon Territory

FINANCE – Copper North Mining Corp. Aug. 20 said it has completed a non-brokered private placement of flow-through shares and units announced July 7. The private placement, which included certain insiders of the company, is comprised of 6.7 million flow-through shares at a price of C6 cents per flow-through share and 5,672,700 units of the company at a price of C6 cents per unit for aggregate gross proceeds of C$742,362. Each unit consists of one common share of the company and one half of one non-transferable warrant. Each warrant will entitle the holder to purchase one additional share at a price of C8 cents until Aug. 20, 2015 and C9 cents from Aug. 21, 2015 until the warrants expire on Aug. 20, 2016. In connection with the private placement, the company paid a 5 percent finder’s fee of C$17,018.10 relating to proceeds raised from the sale of the units. All securities issued and issuable as part of the private placement are subject to a hold period of four months and one day and as such may not be traded until Dec. 21, 2014. The company intends to use the proceeds from the private placement to complete the technical review and for exploration of the Carmacks project, for exploration at the newly acquired Thor property, and for working capital and general corporate purposes. Copper North President and CEO Harlan Meade and Julien François, chief financial officer of the company, purchased 340,000 flow-through shares and 110,000 flow-through shares, respectively. Their participation in the private placement constitutes a “related party transaction” as defined in Multilateral Instrument 61-101. This transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities issued to, nor the consideration paid by, such directors and officers exceeds 25 percent of the company’s market capitalization. The company did not file a material change report more than 21 days before the expected closing of the private placement as the details of the participation therein by related parties of the company were not settled until shortly prior to closing and the company wished to close on an expedited basis for sound business reasons.

MARKETS – Rackla Metals Inc. Aug. 20 responded to a request from the Investment Industry Regulatory Organization of Canada, on behalf of the TSX Venture Exchange, following recent trading activity. The company ordinarily does not comment on rumors or speculation; however, it confirmed that there are no undisclosed material changes to account for the activity. Rackla Metals controls a portfolio of gold projects across Yukon Territory, including two extensive claim blocks in the Rackla belt, an emerging trend of Carlin-type gold systems in east-central Yukon Territory, and the Sixty Mile project near Dawson City. Its management is also actively seeking prospective projects for possible acquisition.


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