CopAur is Pleased to Announce the First Close of Non-Brokered Private Placement of $1,606,000
Vancouver, November 23, 2022 - CopAur Minerals Inc. (TSXV: CPAU) (the "Company") announces that it has closed the first tranche of the up to four million unit non-brokered private placement at $0.50 per unit ("Units") that was announced November 10, 2022 (the "Offering"), for gross proceeds of $1,606,000 consisting 3,212,000 Units of the Company, at a subscription price of $0.50 per Unit. Each Unit consists of one (1) common share and one half (1/2) of one common share purchase warrant ("Warrant") of the Company. Each whole Warrant will entitle the holder thereof to purchase one (1) common share at an exercise price of $0.75 for twenty-four (24) months from the date of closing of the placement. All securities issued in connection with the Offering are subject to a Canadian securities law resale restriction period expiring four (4) months from the date of issuance of the securities.
The Company has paid finders fees on the first tranche totaling $90,555 plus 177,510 finder warrants exercisable at a price of $0.50 for a period of twenty-four (24) months. The Company plans to proceed with a second closing of the Offering shortly.
The Company intends to use the net proceeds from the private placement for exploration purposes on Bolo and Kingsley Mountain projects in Nevada, as well as working capital requirements and other general corporate purposes.
About CopAur Minerals Inc.
CPAU is an exploration company focused on developing projects within the emerging, mineral-rich mining regions of Nevada and British Columbia. The Company is backed by a dynamic and experienced team of resource professionals advancing multiple holdings across both regions; the flagship being Kinsley Mountain Gold Property, a Carlin-style project located 90 km south of the Long Canyon Mine (currently in production under the Newmont/Barrick Joint Venture, Nevada Gold Mines) and its 100% owned Williams Project that points to significant gold-copper potential within the prolific Golden Horseshoe of northern British Columbia, Canada. (For a full overview of projects, please download CopAurPresentation).
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
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CopAur Minerals Inc.
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 contains forward-looking statements. These statements relate to future events or Company's future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revised any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
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