Vancouver, BC – TheNewswire – December 30, 2020 – Consolidated Woodjam Copper Corp. (“Woodjam” or the “Company”) (TSXV:WCC) announces the closing of the non-brokered private placement (the “Offering”) originally announced November 30, 2020. The Offering consisted of the sale of the following securities:
(a) 5,786,657 flow-through shares at a price of $0.23 per share, for gross proceeds of $1,330,931.11; and
(b) 3,232,500 units at a price of $0.20 per unit, for gross proceeds of $646,500, with each unit consisting of one common share and one share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of $0.30 until June 22, 2022.
The Company paid cash finders’ fees totalling $113,544.97, and issued a total of 509,264 finder warrants to a group of finders consisting of Red Cloud Securities Inc., Leede Jones Gable Inc., Industrial Alliance Securities Inc., PI Financial Corp. and Canaccord Genuity Corp. in connection with the closing of the Offering. A total of 389,739 finder warrants are exercisable at a price of $0.23 per share, and a total of 119,525 finder warrants are exercisable at a price of $0.20 per share, in each case until June 22, 2022, save for 17,500 finder warrants exercisable at a price of $0.23 which expire on June 24, 2020.
All securities issued pursuant to the closing of the Offering, including any shares that may be issued pursuant to the exercise of either the warrants forming part of the units or the finder warrants, are subject to a hold period in Canada until April 23, 2021, save for 250,000 flow-through shares which are subject to a hold period in Canada until April 25, 2021.
Bill Morton, President of Woodjam, stated “This financing completes a successful exploration season on the Woodjam Project and gives the company a big head start into the New Year as we continue to see strengthening in the metals sector.
Glen Garratt, P. Geo.
VP, Director
Consolidated Woodjam Copper Corp.
About Consolidated Woodjam Copper Corp.
Consolidated Woodjam Copper Corp. (TSX-V:WCC) trades on the TSX Venture Exchange and owns a 100% interest in the 64,000 hectare Woodjam copper gold porphyry project located in south-central British Columbia approximately 50 km east of the community of Williams Lake in a low elevation flat to undulating landscape, well accessed by logging roads and in close proximity to hydro power.
For more information on Woodjam please visit the Company’s website at: http://www.woodjamcopper.com
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 news release.
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