- PNG Copper (PNGC) has closed its private placement offering for gross proceeds of $100,000.04
- The company issued 1,428,572 units priced at $0.07 per unit
- Each unit consisted of one common share and one share purchase warrant
- Proceeds will be used for exploration of the Keveri Copper-Gold Porphyry Project in Papua New Guinea
- PNG Copper Inc. is a mineral exploration company
- PNG Copper Inc. (PNGC) is up 9.09 per cent on the day, trading at C$0.06 per share at 2 pm EST
PNG Copper (PNGC) has closed its private placement offering for gross proceeds of $100,000.04.
The company issued 1,428,572 units priced at $0.07 per unit. PNG paid a cash fee of $9,000.00 and issued 142,857 non-transferable broker warrants to its agent, IBK Capital Corp.
Each unit consisted of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of $0.10 for a period of five years from the date of issuance.
Proceeds will be used for the exploration of the Keveri Copper-Gold Porphyry Project in Papua New Guinea and for working capital purposes.
All securities issued will be subject to a hold period of four months and one day from the date of closing.
PNG Copper Inc. is a mineral exploration company focused on acquiring, exploring, and developing quality mineral properties in Papua New Guinea.
PNG Copper Inc. (PNGC) is up 9.09 per cent on the day, trading at C$0.06 per share at 2 pm EST.