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Carube Copper to offer $2.5M private placement

The copper and gold explorer plans to offer up to 50 million shares at a price of $0.05 per share

Copper tubes
Carube Copper possesses 11 licenses covering 536 square kilometres in Jamaica, and the company is taking advantage of its first mover status by exploring the country's historic copper and gold workings

Carube Copper Corp (CVE:CUC) announced its intention Tuesday to undertake a private placement worth $2.5 million. 

The copper and gold explorer plans to offer up to 50 million shares at a price of $0.05 per share, pending approval from the TSX Venture Exchange. 

Carube noted that some insiders, such as directors, will be subscribing for a portion of the offering. Additionally, the offering will include the issuance of finders warrants equal to 6% of the total shares offered.

READ: Carube Copper sees potential in Mackenzie's copper showings in British Columbia

All the securities issued as part of the offering will be subject to a four-month-and-one-day hold process.

Shares of Carube jumped 25% to $0.05 on Tuesday.

Carube Copper possesses 11 licenses covering 536 square kilometers in Jamaica, and the company is taking advantage of its first-mover status by exploring the country's historic copper and gold workings.

The company also has three porphyry related projects in British Columbia and 100% ownership of the highly prospective Steward Brook Gold project in Nova Scotia.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Carube Copper

Price: 0.05 CAD

TSX-V:CUC
Market: TSX-V
Market Cap: $8.8 m
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