/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES/
Web Site: www.CuMtn.com
TSX: CUM
VANCOUVER, Aug. 3, 2016 /CNW/ - Copper Mountain Mining
Corporation (TSX: CUM) (the "Company" or "Copper
Mountain") is pleased to announce that it has closed its
previously announced bought deal public offering (the "Offering")
of 13,593,000 units of the Company ("Units"), including the full
exercise of the over-allotment option by the underwriter, at a
price of $0.55 per Unit for aggregate
gross proceeds of $7,476,150.
The Units were sold on a bought-deal basis through Haywood
Securities Inc. Copper Mountain plans to use the net proceeds
from the Offering for working capital and general corporate
purposes.
Each Unit is comprised of one common share ("Common Share") of
the Company and one-half of one common share purchase warrant (each
whole common share purchase warrant a "Warrant") of the
Company. Each whole Warrant will entitle the holder thereof
to purchase one Common Share of the Company at a price of
$0.75 per Common Share, for a period
of 36 months after the Closing, subject to acceleration of the
expiry date in certain circumstances.
The Units issued under the Offering were offered by way of a
short form prospectus in all of the provinces of Canada except Quebec. Copies of the
final short form prospectus and documents incorporated therein are
available electronically under Copper Mountain's issuer profile on
SEDAR at www.sedar.com.
Mr. Jim O'Rourke, President and
Chief Executive Officer of Copper Mountain, said; "The mine
continues to improve each quarter and it's encouraging to see the
strong market support for Copper Mountain demonstrated through this
financing. This financing permits initial funds to pursue accretive
opportunities for the Company's future growth."
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction
in which such offer, sale or solicitation would be unlawful.
The securities offered have not been and will not be registered
under the U.S. Securities Act of 1933 (the "Act"), as amended, or
any state securities laws and may not be offered or sold in
the United States absent
registration or an applicable exemption from the registration
requirements of such Act.
About Copper Mountain Mining Corporation:
Copper
Mountain's flagship asset is the 75% owned Copper Mountain mine
located in southern British
Columbia near the town of Princeton. The Company has a strategic
alliance with Mitsubishi Materials Corporation who owns the
remaining 25%. The Copper Mountain mine commenced production in the
latter half of 2011, and has continued to improve its operations
since start-up. The 18,000 acre site has a large resource of copper
that remains open laterally and at depth. The mine has significant
exploration potential that will need to be explored over the next
few years to fully appreciate the property's full development
potential. Additional information is available on the Company's web
page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
"Rod Shier"
Rod Shier, CPA-CA
Chief Financial Officer
Note: This release contains forward-looking statements
that involve risks and uncertainties. These statements may
differ materially from actual future events or results.
Readers are referred to the documents, filed by the Company on
SEDAR at www.sedar.com, specifically the most recent reports which
identify important risk factors that could cause actual results to
differ from those contained in the forward-looking
statements. The Company undertakes no obligation to review or
confirm analysts' expectations or estimates or to release publicly
any revisions to any forward-looking statement.
SOURCE Copper Mountain Mining Corporation