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General Copper Gold Announces Completion of Financing

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General Copper Gold (GGLD.CN) late Wednesday said it closed a private placement of share units that raised $1.75 million.

The company placed 35-million units priced at C$0.05 each and made up of a share and one half of a one-year warrant to buy a share for $0.10.

Proceeds will be used to pay for an option agreement with Frantier Mining Namibia to acquire an 80% interest in an application for an exclusive prospecting license covering approximately 48,500 hectares of land in Namibia, to advance exploration on the company's Topley Richfield copper-gold property in British Columbia, and for general corporate purposes.

Shares of the company were last seen up $0.005 to $0.08 on the Canadian Securities Exchange.

Price: $0.08, Change: $+0.01, Percent Change: +6.67%

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