http://www.newswire.ca/en/story/1058775/copper-fox-announces-the-closing-of-a-2-500-000-financing-by-an-insider
COPPER FOX ANNOUNCES the Closing of a $2,500,000 Financing by an Insider
VANCOUVER, Oct. 24, 2012 /CNW/ - Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSXV: CUU) is pleased to announce the closing of a previously announced financing (September 10, 2012) by an insider for proceeds of $2,500,000 (the "Financing").
The Financing consisted of the issuance of 2,173,913 units at a purchase price of $1.15 per unit, for aggregate net proceeds of $2,500,000. Each unit consists of one common share of Copper Fox and one common share purchase warrant of Copper Fox. Each warrant entitles the holder thereof to acquire one common share of Copper Fox at an exercise price of $1.25 prior to October 24, 2013.
Monies raised from the Offering will be used to fund costs associated the Schaft Creek Feasibility Study, the Schaft Creek Environmental Assessment Application and general operating expenses.
In accordance with applicable securities legislation, securities issued pursuant to the Financing are subject to a hold period of four months plus one day from the date of completing the Financing.
No fees or commissions were paid as part of this transaction.
