pcNewsWire – CopperBank Resources Corp. (CSE: CBK; OTCPK: CPPKF) has closed a non-brokered private placement of 17,500,000 common shares at a price of $0.08 per share for gross proceeds of $1,400,000.
Press Release
Copperbank Resources Closes Private Placement
VANCOUVER, BC / ACCESSWIRE / May 12, 2017 / CopperBank Resources Corp. (“CopperBank”) (CSE: CBK) (OTC PINK: CPPKF) is pleased to announce that the Company has completed a non-brokered private placement of 17,500,000 common shares at a price of $0.08 per share. An additional 5,000,000 common shares are being issued to Gianni Kovacevic, Chairman of the Company, in order to extinguish a $400,000 loan to the Company by Mr. Kovacevic (see NR# 02 dated February 24, 2017). The Company paid cash commissions under the placement consisting of $5,640.
The private placement is subject to the approval of the Canadian Securities Exchange and the securities will be subject to a four month and one day hold period under securities laws.
The Company intends to use the net proceeds from the private placement for advancing its projects and for general working capital and corporate purposes.
On behalf of CopperBank Resources Corp.
“Gianni Kovacevic”
Executive Chairman
Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: gk@copperbankcorp.com
Website: www.copperbankcorp.com
SOURCE: CopperBank Resources Corp.
