Copper Fox Announces Carmax Shareholders Approve Private Placement
May 23 2014 - 6:00AM
Marketwired
Copper Fox Announces Carmax Shareholders Approve Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 23, 2014) -
Copper Fox Metals Inc. ("Copper Fox" or the "Company")
(TSX-VENTURE:CUU) and its wholly owned subsidiary Desert Fox Copper
Inc. ("Desert Fox") are pleased to announce that the shareholders
of Carmax Mining Corp. ("Carmax") have approved the proposed
private placement of 20,000,000 units to Desert Fox. This placement
is expected to close on May 28, 2014, with the details previously
announced in the April 10, 2014 news release. Further announcements
will be made upon closing.
Each unit subscribed for by Desert Fox will consist of one
Common Share and one Share Purchase warrant with a common share
purchase warrant of the Corporation entitling the subscriber to
purchase for a period of two years following the date of Closing
one Common Share at a price of $0.075 per share, subject to terms
and conditions set forth in the warrant certificate.
Mr. Stewart, President of Copper Fox stated, "We are excited to
receive this news from Carmax and are looking forward to working
with them on their Eaglehead Project once the private placement has
closed. We are also pleased to announce that the Copper Fox AGM,
held yesterday in Calgary, resulted in the Board of Directors being
re-elected, we are proud to have them re-elected and look forward
to another busy year for Copper Fox.
About Copper Fox
Copper Fox is a Tier 1 Canadian resource company listed on the
TSX-Venture Exchange (TSX-VENTURE:CUU) focused on copper
exploration and development in North America with offices in
Calgary, Alberta and Miami, Arizona. In addition to Copper Fox's
25% interest in the Schaft Creek Joint Venture, Copper Fox holds,
through Desert Fox and its wholly-owned subsidiaries, the Sombrero
Butte copper project in the Bunker Hill Mining District, Arizona
and the Van Dyke oxide copper project in the Globe-Miami Mining
District, Arizona. For further information on these projects,
please refer to the Company's website at
www.copperfoxmetals.com.
On behalf of the Board of Directors
Elmer B. Stewart, President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within
the meaning of Canadian securities laws. Forward-looking
information in this news release includes statements about the
completion of the private placement by Desert Fox in Carmax.
In connection with the forward-looking information contained in
this news release, Copper Fox has made numerous assumptions. While
Copper Fox considers these assumptions to be reasonable, these
assumptions are inherently subject to significant uncertainties and
contingencies. Additionally, there are known and unknown risk
factors which could cause actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information contained herein. Known risk factors
include, among others: the private placement by Desert Fox in
Carman may not close as complete as currently anticipated; the
actual mineralization in the Eaglehead property deposit may not be
as favorable as suggested by the resource estimate; the possibility
that future drilling and geophysical exploration on the Eaglehead
property may not occur on a timely basis, or at all; fluctuations
in copper and other commodity prices and currency exchange rates;
uncertainties relating to interpretation of drill results and the
geology, continuity and grade of the mineral deposit; uncertainty
of estimates of capital and operating costs, recovery rates, and
estimated economic return; the need to obtain additional financing
to develop properties and uncertainty as to the availability and
terms of future financing; the possibility of delay in exploration
or development programs or in construction projects and uncertainty
of meeting anticipated program milestones; and uncertainty as to
timely availability of permits and other governmental
approvals.
A more complete discussion of the risks and uncertainties facing
Copper Fox is disclosed in Copper Fox's continuous disclosure
filings with Canadian securities regulatory authorities at
www.sedar.com. All forward-looking information herein is qualified
in its entirety by this cautionary statement, and Copper Fox
disclaims any obligation to revise or update any such
forward-looking information or to publicly announce the result of
any revisions to any of the forward-looking information contained
herein to reflect future results, events or developments, except as
required by law.
Copper Fox Metals Inc.Investor line1-866-913-1910Copper Fox
Metals Inc.Lynn Ball1-403-264-2820
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