Cascadero Copper Edges Up As Announces non-brokered Private Placement
Cascadero Copper (CCD.V) announced a non-brokered Private Placement of 6 million Units at $0.18 per Unit. One Unit consists of one Cascadero Copper common share and one share purchase warrant. One warrant plus $0.25 cents enables the bearer to purchase one common share of the company for a period of up to 36-months. The warrant is transferrable and is subject to an Accelerated Exercise Clause. It is expected that Cascadero insiders will subscribe for up to 25% of the offering, which is the insiders approximate equity ownership of the company. The company will apply for a Supplemental Listing and, subject to TSX.V approval the warrants will be listed for trading on the TSX Venture exchange. Finder fees are payable.
It said use of Proceeds is to continue the exploration of the 50% owned Pancho Arias Mineral District in north western Argentina. The funds will be used to drill test two outstanding Cu-Au-Mo porphyries and one high-grade gold system, it added.
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