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TSX.V: COCO
VANCOUVER, BC, September 28, 2022 /CNW/ – Coast Copper Corp. (“coastal copper” or the “Company”) COCONUT is pleased to announce that it has closed its previously announced non-brokered private placement (the “offer“) (see press release dated 09/16/2022), has completed its second anniversary obligations relating to its Empire Mine property option agreement and has received conditional regulatory approval for the sale of its Red Chris properties (see press release dated August 4, 2022).
Adam TravisCompany CEO and Director comments: “I am very pleased with the progress we have made on the Empire Mine property having already completed the entire exploration work commitment years ahead of schedule. We are working on updated geological models based on Dr. Oliver’s significant new interpretation (see press release). dated August 15, 2022) associated with the regional thrust and fault systems as the main conduit for mineralization. We plan future drilling around this new regional potential. Thank you again to our insiders and shareholders for participating in this financing while we await final regulatory approval to complete the sale of our Red Chris properties in the near future. “
THE OFFER
The Company has completed a private placement totaling 8,000,000 units of the Company (the “units“) at an issue price of $0.05 per unit for gross proceeds of $400,000 (the “Offer”). Each Unit consists of one common share of the Company and one non-transferable common share purchase warrant, each warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.10 per share…
