(TheNewswire)
Vancouver, B.C. / TheNewswire / June 29, 2018 – Consolidated Woodjam Copper Corp. (“Woodjam” or the “Company”) announces that it has closed the private placement announced May 30, 2018.
Closing consisted of the issuance of 2,800,000 non flow through units at a price of $0.05 per unit and 145,000 flow through units at a price of $0.07 per unit, for total consideration of $150,150. Each unit consists of one common share and one-half share purchase warrant (the “Warrant”), with each whole Warrant entitling the holder to purchase one additional common share at a price of $0.10 until June 29, 2020.
Warrants will be subject to the following acceleration provision: If the closing price for the common shares of the company as traded on the TSX Venture Exchange is equal to or greater than $0.30 per common share for 10 consecutive trading days occurring any time after the expiry of the four-month hold period, then the purchaser shall have until 4 p.m. Vancouver, B.C., time of the 30th calendar day after the company's news release announcing the achievement of the accelerated expiry date to exercise the share purchase warrants. The share purchase warrants shall expire on the earlier of the last day of the one-year exercise term or the accelerated expiry date. The company shall issue no other notice other than such news release.
Woodjam paid a cash finders’ fee totaling $1,800 in connection with this private placement.
All of the securities issued pursuant to this private placement, including any shares issued pursuant to the exercise of the Warrants forming part of the units, are subject to a hold period which expires on October 30, 2018.
About Woodjam Copper
Woodjam Copper trades on the TSX-V exchange and, based on its acquisition agreement with Gold Fields, owns a 100% interest in the Woodjam North and Woodjam South projects in British Columbia.
The Woodjam property encompassing 64,087 hectares (158,359 acres) is located approximately 50 kilometers northeast of the community of Williams Lake In south-central British Columbia. Exploration completed to date on the property by Consolidated Woodjam and previous partners (particularly Gold Fields of South Africa) is approximately $30 million dollars. Six zones of porphyry copper-gold mineralization have been discovered on the property with the two largest being the Southeast Zone and The Deerhorn Zone. Inferred resources at the Southeast Zone (previously published by GoldFields) are 227.5 million tonnes grading 0.31% Cu and 0.05 g/t Au. Inferred resources at the Deerhorn Zone (previously published by GoldFields) are 32.8 million tonnes grading 0.22% Cu and 0.49 g/t Au. Exemplary holes include hole 08-84 drilled in the Southeast Zone with 200.8 meters grading 1.01% copper and 0.44 g/t gold and hole 12-48 drilled in the Deerhorn Zone with 289.2 meters grading 1.33 g/t gold and 0.24% copper.
Visit the Company’s website at: http://www.woodjamcopper.com
On behalf of the board of directors of Consolidated Woodjam Copper Corp.;
J.W. Morton, P.Geo.
President and CEO
Consolidated Woodjam Copper Corp.
Contact:(604) 681-7913
Toll Free: 888-656-6611
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