Mining News: Northern Neighbors: Copper North bolsters treasury

Copper North Mining Corp. March 19 reported the completion of a C$318,000 financing. The non-brokered private placement consists of 5.3 million units priced at C6 cents per unit. Each unit consists of one Copper North common share and one half of a warrant. Each whole warrant is redeemable for the purchase of an additional share at for C9 cents until March 19, 2017. Copper North Chairman Dale Corman bought 1.7 million of the units. The company intends to use the proceeds from the financing for resource expansion and engineering of its Carmacks copper-gold-silver project in the Yukon Territory; exploration at the Thor copper-gold property in northern British Columbia; and for working capital and general corporate purposes. In connection with the financing, Copper North paid finders’ fees of C$7,140 in cash and issued 170,000 finders’ warrants with the same terms as the private placement warrants.

- Shane Lasley