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CopperBank Resources issues 1 million shares to Antofagasta

Mining News - Published on Thu, 07 Mar 2019

Image Source: Insider Financial
CopperBank Resources Corp announced that it has issued 1 million common shares of the Company to Antofagasta Minerals SA to satisfy their July 28, 2017 assignment agreement. The Company has also paid USD 25,000 of the USD 150,000 payment. The balance USD 125,000 is to be paid in a single transaction, at any time by March 4,2020, with interest to be charged on such amount daily commencing on March 5,2019 until such payment is made, at an annual interest rate of 10%.

The Company announced that it will raise up to $700,000 by issuing 10 million shares by way of private placement at 0.07 per share. It anticipates that this financing will close in the very near future. Use of proceeds will be to satisfy the above mentioned final payment and other project related expenses.

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Posted By : Rabi Wangkhem on Thu, 07 Mar 2019
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