Cascadero Copper Corporation Announces Changes to Recently Announced Non-Brokered Private Placement
September 26 2011 - 8:45AM
Marketwired
Cascadero Copper Corp. (TSX VENTURE: CCD) is amending the terms of
the 6,000,000 Unit non-brokered private placement announced
September 13th 2011.
The 6,000,000 Unit offering is re-priced to $0.15 per Unit for
total gross proceeds of up to $900,000.
Each unit consists of one Cascadero Copper common share and one
share purchase warrant. Each one share purchase warrant entitles
the holder to purchase one Cascadero Copper common share at $0.25
per share for a period of three-years from closing. The Unit is
subject to a 121-day hold period from closing. The warrant is
transferrable and is subject to an accelerated exercise clause. The
trigger price on the accelerated warrant price is reduced from
$0.40 to $0.35. The Company will apply for a Supplemental Listing
and, subject to TSX Venture Exchange approval, the warrant will
trade on the Venture Exchange.
A finder fee is payable in cash or equivalent Units of this
offering.
Prior to closing, 105.8 million shares are issued. Completion of
the financing is subject to regulatory approval, including
acceptance of the financing by the TSX Venture Exchange.
Use of proceeds is to continue exploration in Argentina and
working capital.
ABOUT CASCADERO COPPER CORP.
Cascadero Copper is an integrated prospecting and mineral
exploration business. The Company has offices in North Vancouver,
BC, Sudbury, Ontario and Salta City in the province of Salta,
Argentina. The Company generates, acquires and explores mineral
properties. Exploration is active in BC, Ontario and Argentina.
In BC, in July 2011 Gold Fields completed a seven-core hole
drill program consisting of 2,448-metres on the MEX copper-gold
prospect. Gold Fields Ltd holds an option to earn a 75% interest in
Cascadero's BC porphyry property by spending C$20 million over four
years. Assays are pending.
In Ontario, Cascadero has completed sampling and geophysics on
two of its 22 (100%) owned prospects. Initial sampling results are
excellent with gold values up to 30-grams per tonne (approx.
one-ounce gold). Geophysics (IP/Res/Mag) on these properties
identified favourable host rocks directly below the gold samples on
surface and in the area of drill holes which have gold and copper
values.
In Argentina in June 2011, the Company drill tested Las Burras,
which produced a discovery hole in a new and potentially large
copper-moly-gold deposit. In 2011, Cascadero plans to drill test
two additional copper-gold porphyry systems and two high-grade
sediment hosted gold showings. The first prospect is Las Cuevas
where drilling started on August 10th 2011.
Cascadero's commodity focus is gold, silver and base metals,
which metals are hosted in large-scale mineral systems. The Company
has identified 18 such targets in BC, Ontario and Argentina.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Cascadero Copper Corp. Bill McWilliam President
604-999-0391 Bill@Cascadero.com www.cascadero.com AJF Consultants
Allan or Janice Feldman BC Office = 604-948-9663 or Cell =
604-377-2942
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