VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 15, 2013) - AQM Copper Inc. (News - Market indicators) (BVL:AQM) ("AQM" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement consisting of an aggregate of up to 36,363,636 common shares in the capital of the Company at a price of $0.11 per common share for total gross proceeds of up to $4,000,000 (the "Private Placement").
The proceeds from the Private Placement will be used for funding general working capital. Certain insiders of the Company may participate in the Private Placement and the Private Placement may also be subject to a finder's fee payable in accordance with industry rates.
The Private Placement is expected to close on or around October 31, 2013, subject to regulatory approval. All common shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months and one day from the closing date of the Private Placement.
On Behalf of the Board
Bruce L. Turner, President and Chief Executive Officer
About AQM Copper
AQM Copper Inc. is a Canadian based mineral exploration company exploring and developing copper deposits in South America. Through its Peruvian subsidiary, Minera AQM Copper Peru S.A.C. ("MAQM"), the Company is developing the Zafranal Copper-Gold Porphyry Project located in Southern Peru (the "Zafranal Project"). MAQM is the operator of a 50/50 joint venture with Teck Resources Limited through a sole purpose Peruvian company, Compañia Minera Zafranal. MAQM is owned 60% by AQM, and 40% by Mitsubishi Materials Corporation, pursuant to a transaction outlined in the Company's news release of July 2, 2013. As such, the Company has a 30% beneficial ownership interest in the Zafranal Project.
The Company's management and directors have extensive experience working for the world's largest mining copper producers and investment banking backgrounds. Please refer to the Company's website at www.aqmcopper.com for further information regarding the Company and the Zafranal Project.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Information
Except for statements of historical fact relating to AQM Copper Inc., certain information contained herein constitutes "forward-looking statements". Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "intends", "targets", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would", and "could". We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in AQM Copper Inc´s public filings, which may be accessed at www.sedar.com. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.
