US Copper raises $1.17 million in private placement financing

US Copper Corp (TSXV: USCU) completed a non-brokered private placement raising $1,165,000 in gross proceeds, according to a company statement.

The financing involved issuing 11,650,000 units at $0.10 per unit. Each unit includes one common share and one warrant allowing the holder to purchase an additional common share at $0.15 within two years of closing.

All securities from the private placement are subject to a four-month hold period. The company paid $5,700 in finders' fees and the transaction requires final acceptance from the TSX Venture Exchange.

US Copper plans to use the proceeds for general working capital and to advance its Moonlight-Superior Copper Project. The company stated activities will include baseline studies for permit applications, metallurgical studies for engineering work, and geophysical surveys to identify deeper targets.

The company filed a material change report less than 21 days before the closing, citing the need to complete the financing in a timely manner.

US Copper trades on the TSX Venture Exchange under USCU, on the OTCQB as USCUF, and on the Frankfurt Stock Exchange as C730.

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