(TheNewswire)
Vancouver, BC - TheNewswire - November 30,2020 - Consolidated Woodjam Copper Corp.("Woodjam" or the "Company") (TSXV: WCC ) is pleased toannounce a non-brokered private placement (the "Offering")to raise gross proceeds of up to $2,670,000 to consist of the sale ofthe following securities:
(a) up to 9,000,000 flow-through shares at aprice of $0.23 per share, to raise gross proceeds of up to $2,070,000;and
(b) up to 3,000,000 units at a price of $0.20per unit, to raise gross proceeds of up to $600,000, with each unit toconsist of one common share and one share purchase warrant, with eachwarrant to entitle the holder to purchase one additional common shareat a price of $0.30 for a period of 18 months following theclosing.
Red Cloud Securities Inc. will be acting as finder onbehalf of the Company in connection with the Offering. The netproceeds from the Offering will be used primarily to fund explorationactivities at Woodjam's 100% owned 64,000 hectare Woodjam Projectlocated fifty kilometers east of Williams Lake, B.C., and for generalcorporate and working capital purposes. The gross proceeds raisedfrom the issuance of the flow-through shares will be used for"Canadian exploration expenses", and will qualify as"flow-through mining expenditures" as defined in the Income Tax Act (Canada), which will be renounced to the purchasers of theflow-through shares with an effective date no later than December 31,2020 in an aggregate amount not less than the gross proceeds raisedfrom the issuance of the flow-through shares.
The Offering is scheduled to close on or about December11, 2020, and is subject to certain conditions including, but notlimited to, the receipt of all necessary approvals from the TSXVenture Exchange.
All of the securities issued pursuant to the Offering,including any shares that may be issued pursuant to the exercise ofthe warrants forming part of the units or the Finder Warrants, will besubject to a hold period in Canada of four months and one day from theclosing.
The securities referred to in thisnews release have not been, nor will they be, registered under theUnited States Securities Act of 1933, as amended, and may not beoffered or sold within the United States or to, or for the account orbenefit of, U.S. persons absent U.S. registration or an applicableexemption from the U.S. registration requirements. This news releasedoes not constitute an offer for sale of securities for sale, nor asolicitation for offers to buy any securities. Any public offering ofsecurities in the United States must be made by means of a prospectuscontaining detailed information about the company and management, aswell as financial statements
Glen Garatt, P. Geo.
VP, Director
Consolidated Woodjam CopperCorp.
About Consolidated Woodjam CopperCorp.
Consolidated Woodjam Copper Corp. (TSX-V:WCC) trades onthe TSX Venture Exchange and owns a 100% interest in the 64,000hectare Woodjam copper gold porphyry project located in south-centralBritish Columbia approximately 50 km east of the community of WilliamsLake 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 theCompany's website at: http://www.woodjamcopper.com
Neit h er t h e T S X Ve n t u re E xc hang e no r its Re gu l a ti o n S ervic e s P ro vi d er ( a s t h a t term i s d e f i n ed in t h e po licies o f t h e T S X Ve n t u re Exc hang e) a cce p ts res p on si b ility f o r t h e ad e q u a cy o r a cc u r a cy o f t h is news rele a se.
This news release may containforward-looking statements based on assumptions and judgements ofmanagement regarding future events or results that may prove to beinaccurate as a result of factors beyond its control, and actualresults may differ materially from expected results.
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