Doré Copper Launches $4.62M Private Placement for Growth
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Doré Copper Makes Strategic Move with Private Placement
Doré Copper Mining Corp. (the "Doré Copper"), a key player in the copper mining industry, has announced an exciting non-brokered private placement. This offering includes up to 20,952,381 common shares at a price of $0.105 each, potentially yielding around $2.2 million in gross proceeds. Additionally, they plan to issue flow-through shares, consisting of 960,000 traditional flow-through shares priced at $0.125 each and 11,500,000 charitable flow-through shares at $0.20 each, totaling an impressive $4.62 million.
Funding Purpose and Allocation
The funding from this offering is earmarked for various vital activities within the corporation. Doré Copper intends to allocate net proceeds towards exploration and development initiatives, feasibility studies, and other essential corporate functions. Importantly, the company is dedicated to utilizing the full proceeds from the flow-through shares to directly support eligible Canadian exploration expenses on their projects in Québec.
Regulatory Compliance and Closing Date
This private placement will adhere to Canadian securities regulations, minimizing the need for extensive documentation. The closing of this offering is anticipated around September 20, 2024. It is also subject to the required regulatory and exchange approvals, ensuring transparency and confidence for potential investors.
Expert Collaboration and Finder’s Fees
Involved in this opportunity are various arm's-length parties who might assist officially by receiving a finder's fee. This collaboration exemplifies Doré Copper's commitment to fostering strong industry relationships while also ensuring compliance with the TSX Venture Exchange regulations.
About Doré Copper Mining Corp.
Doré Copper is not just another mining corporation; it aims to emerge as a leading copper producer in Québec. With a visionary plan to produce over 50 million pounds of copper equivalent annually, the company employs a hub-and-spoke operation model connecting multiple high-grade copper-gold assets to its main processing mill located at Copper Rand. As part of this strategy, Doré Copper has already provided a successful Preliminary Economic Assessment (PEA) in May 2022 and is actively working on the feasibility study.
Historic Production and Land Consolidation
The corporation has strategically consolidated a substantial land package within the Lac Doré/Chibougamau and Joe Mann mining camps. Historically, these areas have been prolific, producing 1.6 billion pounds of copper and 4.4 million ounces of gold—an encouraging backdrop for the corporation’s ambitious plans. With 13 former producing mines located within a 60-kilometer radius of the Copper Rand Mill, Doré Copper is poised to capitalize on these resources.
Contact Information
For those interested in learning more about the private placement or the corporation’s operations, you can reach out to:
Ernest Mast, President and CEO - Phone: (416) 792-2229 - Email: ernest.mast@dorecopper.com
Laurie Gaborit, VP of Investor Relations - Phone: (416) 219-2049 - Email: laurie.gaborit@dorecopper.com
Frequently Asked Questions
What is the purpose of the private placement?
The net proceeds will support exploration and development activities, studies, permitting, and working capital.
How much capital is Doré Copper looking to raise?
They aim to raise up to $4.62 million through this private placement.
When is the expected closing date of the offering?
The closing is anticipated around September 20, 2024, subject to regulatory approvals.
What are flow-through shares?
Flow-through shares allow companies to pass tax benefits from exploration expenditures to investors, making them attractive for financing.
What are Doré Copper’s production goals?
Doré Copper aims to produce over 50 million pounds of copper equivalent annually using its hub-and-spoke model.
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