Allied Copper Corp.
(OTCQB: CPRRF; TSX-V: CPR)
Supply and Demand | 02/28/2023 |
Allied Copper Doubles Amount of Non-Brokered Private Placement in a Macro Bear Market
Allied Copper Corp., (TSX-V: CPR, OTCQB: CPRRF) (the “Company” or “Allied Copper”) has announced its intent to complete a non-brokered private placement of up to 20,000,000 Units of the Company at a price of $0.20 per Unit for aggregate gross proceeds to the Company of up to $4.0 million, a deal that was previously set at 10,000,000 Units of the Company and $2.0 million.
Let me reiterate what we just said – The Company doubled the amount in a macro bear market!
The gross proceeds raised from the sale of Units will be used to advance its pilot programs and for general corporate matters. The Offering will be conducted in all provinces of Canada (except Quebec) pursuant to private placement exemptions. The closing of the Offering is subject to, among other things, the receipt of all necessary approvals from the TSX Venture Exchange (the “TSXV”).
If you’re wondering “Okay, but what does this mean?” keep reading.
Let’s start with the definition of private placement. According to Investopedia, “A private placement is a sale of stock shares or bonds to pre-selected investors and institutions rather than publicly on the open market. It is an alternative to an initial public offering (IPO) for a company seeking to raise capital for expansion. Private placements are regulated by the U.S. Securities and Exchange Commission under Regulation D.”
There are advantages and long-term benefits to selling shares in private placements. For example, Allied Copper is creating stable investments and protecting the value of its shares while raising quite a significant amount of finance. Another major advantage of private placements is the flexibility in the amount and type of funding the company chooses.
For more on Allied Copper Corp. and Volt Lithium Corp.,
About Allied Copper Corp.:
Allied (TSX-V: CPR, OTCQB: CPRRF) is a growth-oriented, battery-metals focused exploration company. Allied’s strategy is to acquire and develop low-cost, potentially high-growth battery metals assets that represent key inputs needed to support the global energy transition. Their commitment is to operate efficiently and with transparency across all areas of the business staying sharply focused on creating long-term, sustainable shareholder value.
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