Coyote Copper Mines Upsizes Non-Brokered Financing to C$8.5 Million
Coyote Copper Mines (CCMM.V) upsized its non-brokered financing to C$8.5 million, citing "overwhelming demand," the company said late on Monday.The company will issue up to 34 million units to be issued at $0.25 per unit. Each unit consists of one fully-paid and non-assessable common share and one half common share purchase warrant, for aggregate gross proceeds of up to $8.5 million.Two half warrants will entitle the holder to purchase one common share in the capital of the company. Each warrant will expire 36 months from the date of issue and will entitle the holder to purchase one common share at a price of $0.50 per warrant share.Proceeds will be used for exploration and general corporate purposes.The closing of the final tranche of the offering is expected on or before June 16, subject to TSX Venture Exchange approval.
