Tickers: XTSX:LLC
Tags: Mining
Vancouver, BC / TheNewswire / May 13, 2016 - Subject to approval of the TSX Venture Exchange, Lorraine Copper Corp. (the "Company") (TSX-V: LLC) has completed a private placement for the sale of 2,000,000 units at a price of $0.05 per unit (each unit comprising one flow-through common shares and one warrant for the purchase of one additional non-flow-through common share at a price of $0.05 per share for a term of five years from the date of closing of the private placement). All the securities issued in the private placement are subject to a four month hold period.
Gross proceeds of the offering will be $100,000.
The Company will pay a commission of 7.5% of the value of the placement payable in cash or shares with a maximum of 1/2 cash.
The proceeds of the offering shall be applied to exploration costs for the OK property interest recently acquired from Eastfield Resources Ltd. or other projects which the Company is currently negotiating to acquire.
On behalf of the board of directors of the Company;
Donald D. Sharp, CA-CPA
Director & CFO
Lorraine Copper Corp.
About Lorraine Copper
Lorraine Copper holds a 49% interest in the Lorraine property in a joint venture with Teck Resources Limited. Lorraine Copper recently announced a purchase agreement for the Okeover (OK) copper-molybdenum project. For more information please visit the Company's website at www.lorrainecopper.com.
FOR FURTHER INFORMATION REGARDING LORRAINE COPPER PLEASE CONTACT:
Paul Way, Business Development Manager
(604) 681-7913 or
Toll Free: (888) 656-6611
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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