Three Valley Copper Corp. Announces C$10 Million Bought Deal Financing
October 28 2021 - 7:00AM
Three Valley Copper Corp. ("
TVC" or the
"
Company") announced today that it has entered
into an agreement with PI Financial Corp. and Eight Capital as
co-lead underwriters and joint bookrunners (together, the
“
Underwriters”), under which the Underwriters have
agreed to buy on a bought deal basis 31,250,000 units (the
“
Units”) of the Company, at a price of C$0.32 per
Unit for gross proceeds of approximately C$10,000,000 (the
“
Offering”). Each Unit consists of one common
share in the capital of the Company (each a “
Unit
Share”) and one common share purchase warrant (each a
“
Warrant”). Each Warrant is exercisable into one
common share of the Company (each a “
Warrant
Share”) at an exercise price of C$0.45 for a period of 30
months from the closing of the Offering.
The Company has also granted the Underwriters an
option, exercisable at the offering price for a period of 30 days
following the closing of the Offering, to purchase up to an
additional 15% of the Units or the components of the Units, to
cover over-allotments, if any, and for market stabilization
purposes. The Offering is expected to close on or around November
18, 2021 and is subject to the Company receiving all necessary
regulatory approvals, including the approval of the TSX Venture
Exchange.
The net proceeds from the Offering will be used
to fund the advancement of the Company’s flagship Minera Tres
Valles project and for working capital and general corporate
purposes.
The Units will be offered by way of short form
prospectus in each of the provinces of Canada (other than
Quebec).
This news release does not constitute an offer
to sell or a solicitation of an offer to sell any of securities in
the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any state
securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
About Three Valley Copper
Three Valley Copper, headquartered in Toronto,
Ontario, Canada is focused on growing copper production from, and
further exploration of, its primary asset, Minera Tres Valles.
Located in Salamanca, Chile, MTV is 91.1% owned by the Company and
MTV's main assets are the Minera Tres Valles mining complex and its
46,000 hectares of exploratory lands. For more information about
the Company, please visit www.threevalleycopper.com.
Cautionary Statement Regarding
Forward-Looking Information
Certain statements in this news release contain
forward-looking information (collectively referred to herein as the
"Forward-Looking Statements") within the meaning of applicable
Canadian securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "may", "will", "project",
"should", "believe", "plans", "intends" and similar expressions are
intended to identify Forward-Looking Statements. In particular, but
without limiting the foregoing, this news release contains
Forward-Looking Statements pertaining to: the anticipated approvals
from all necessary regulators including the TSX Venture Exchange
and the expected date of closing of the Offering.
Although TVC believes that the Forward-Looking
Statements are reasonable, they are not guarantees of future
results, performance or achievements. A number of factors or
assumptions have been used to develop the Forward-Looking
Statements, including: the anticipated approvals from the TSX
Venture Exchange and other regulators, which approvals are not
guaranteed. Although the Company believes that the expectations and
assumptions on which such Forward-Looking Statements and
information are based are reasonable, undue reliance should not be
placed on the Forward-Looking Statements and information as the
Company cannot give any assurance that they will prove to be
correct. Since Forward-Looking Statements and information
address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results,
performance or achievements could vary materially from those
expressed or implied by the Forward-Looking Statements should
assumptions underlying the Forward-Looking Statements prove
incorrect or should one or more risks or other factors materialize.
Readers are cautioned that the foregoing list of risks and
uncertainties is not exhaustive. Other risk factors that could
affect the Company's operations or financial results are included
in the Company's Annual Information Form dated March 3, 2021 and
may be accessed through the SEDAR website (www.sedar.com). The
forward-looking statements and information contained in this news
release are made as of the date hereof and the Company does not
undertake any obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities laws.
You should not place undue importance on
forward-looking information and should not rely upon this
information as of any other date. While the Company may elect to,
the Company is under no obligation and does not undertake to update
this information at any particular time, except as required by
law.
Neither the 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 news release.
For further information:
Michael StaresinicChief Executive OfficerT:
(416) 943-7107E: mstaresinic@threevalleycopper.com
Renmark Financial Communications Inc.Joshua
Lavers: jlavers@renmarkfinancial.com T: (416) 644-2020 or
(212) 812-7680www.renmarkfinancial.com
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