VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/01/15 -- Global Copper Group Inc. (TSX VENTURE: ICU) is pleased to announce that it has closed the non-brokered private placement announced on March 17, 2015 for gross proceeds of $385,250. The placement as originally announced was over-subscribed by 305,000 Units.
The non-brokered private placement closed on May 1, 2015 and consisted of the placement of 7,705,000 units at a price of $0.05 per unit. The units consisted of one share and one-half share purchase warrant providing the holder with the right to subscribe for one additional common share for each full warrant held at a price of $0.075 for a period of two (2) years from the date of Closing, with an early trigger provision.
As compensation for the placement of the units, Global paid finder's fees of $24,000 calculated at 8% of the amount placed by the finder's.
All securities issued by Global pursuant to the offering have been issued subject to a four month hold period expiring September 2, 2015.
The proceeds of the Offering raised will be used by the Issuer for exploration of present and future mineral opportunities and general and administrative expenses.
About Global Copper Group Inc.
Global Copper Group Inc. is a publicly traded Canadian exploration company listed on the TSX-Venture Exchange (TSX VENTURE: ICU) focused on copper exploration and development. The company plans to acquire, de-risk and advance copper assets in mining friendly jurisdictions prior to seeking joint venture partnerships.
On behalf of the Board of Directors
Daniel Caamano, President and CEO, Global Copper Group Inc.
We seek safe harbor.
The company's profile may also be viewed on www.sedar.com.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Forward Looking Information
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. WARNING: The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Contacts:
Global Copper Group Inc.
Daniel Caamano
President & CEO
604.620.7737
Global Copper Group Inc.
Judy A. McCall
Corporate Secretary
604.620.7737
www.globalcoppergroup.com
