VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 11, 2013) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
Copper Mountain Mining Corporation (CUM.TO) ("Copper Mountain" or the "Company") is pleased to announce that it has entered into an agreement with National Bank Financial Inc. as lead underwriter on behalf of a syndicate of underwriters to be formed (the "Underwriters"), for the issuance of 17,700,000 common shares (the "Shares") of the Company, on a bought deal basis, at a price of Cdn$1.70 per Share for aggregate gross proceeds of Cdn$30,090,000 (the "Offering").
Copper Mountain plans to use the net proceeds of this financing for the construction of a secondary crusher to increase production at the Copper Mountain Mine site and for general corporate purposes.
The Underwriters also have the option to increase the size of the Offering by up to an additional 2,655,000 Shares (the "Underwriters' Option") at any time until 30 days following the closing of the Offering, for aggregate gross proceeds under the Offering of Cdn$34,603,500 if the Underwriters' Option is exercised in full.
The Shares will be offered by way of a short form prospectus to be filed in all provinces of Canada, other than Quebec, pursuant to National Instrument 44-101 Short Form Prospectus Distributions.
The offering is scheduled to close on or about December 3, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.
About Copper Mountain Mining Corporation
Copper Mountain's flagship asset is the 75% owned Copper Mountain mine located in southern British Columbia near the town of Princeton. The Company has a strategic alliance with Mitsubishi Materials Corporation who owns the remaining 25%. The Copper Mountain mine commenced production in the latter half of 2011, and has continued to improve its operations during the year. The 18,000 acre site has a resource of approximately 5 billion pounds of copper and remains open laterally and at depth. The mine has significant exploration potential that will need to be explored over the next few years to fully appreciate the properties full development potential. Additional information is available on the Company's new web page at www.CuMtn.com
On behalf of the Board of COPPER MOUNTAIN MINING CORPORATION
Jim O'Rourke, P.Eng, Chief Executive Officer
Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statement.