Getty Copper Inc. (TSX-V: GTC) Announces Proposed Private Placement
VANCOUVER, Dec. 3, 2019
Trading Symbol TSX V: GTC
VANCOUVER, Dec. 3, 2019 /CNW/ - Getty Copper Inc. (TSXV: "GTC") is pleased to announce a proposed non-brokered private placement financing of up to 6,000,000 non flow-through units (the "NFT Units") at a price of $0.05 per NFT Unit for gross proceeds of $300,000 and 4,000,000 flow-through Units (the "FT Units") at a price of $0.075 per FT Unit for gross proceeds of up to $300,000.
Each NFT Unit will be comprised of one common share of Getty and one common share purchase warrant (a "Warrant"), with each Warrant entitling the holder to purchase one additional common share at $0.08 per share for a period of two years from the date of issue.
Each FT Unit will be comprised of one flow-through common share of Getty and one half of one non flow-through common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one additional common share at $0.08 per share for a period of two years from the date of issue.
The Company will pay a commission or finder's fee of up to 6% of the gross proceeds to investment dealers or finders (where permitted by law).
The proceeds from the private placement will be used to complete work on Getty's mineral properties, repay corporate debt and for general working capital purposes.
Closing of the private placement is subject to TSX Venture Exchange approval.
ON BEHALF OF THE BOARD OF DIRECTORS
John Lepinski, Managing Director
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
The foregoing statements are forward-looking statements but reflect the current expectations of management with respect to future events and performance. Wherever used, the words "may," "will," "anticipate," "intend," "expect," "plan," "believe," and similar expressions identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at which, such performance or results will be achieved.
Forward-looking statements are based on information available at the time they are made, assumptions made by management, and management's good faith belief with respect to future events, and are subject to the risks and uncertainties of mineral exploration.
SOURCE Getty Copper Inc.
View original content: http://www.newswire.ca/en/releases/archive/December2019/03/c5898.html
John Lepinski, GETTY COPPER INC., Phone: 604-931-3231, Fax: 604-931-2814Copyright CNW Group 2019