| | Published : February 17th, 2011 | Announces a $3,750,000 Non Brokered Private Placement Flow-Through Offering |
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Copper Fox Announces a $3,750,000 Non Brokered Private Placement Flow-Through
Offering
Vancouver, British Columbia -- February 17, 2011 -- Copper Fox Metals
Inc. ("Copper Fox" or "the Company") (TSX-V: CUU)
is pleased to announce that subject to approval of the TSX-Venture Exchange,
the Company intends to complete a non-brokered private placement to raise up
to $3,750,000 in flow-through funds (the "Offering"). The Offering
will consist of 3,000,000 flow-through units at a price of $1.25. Each unit
will consist of one flow through common share and one half of a non-flow
through purchase warrant. One full purchase warrant plus $1.50 entitles the
holder to purchase a Copper Fox common share until expiry on December 31,
2011. In the event Copper Fox trades above $1.65 for ten (10) consecutive
days, the purchase warrants, if unexercised, will expire 30 days thereafter.
The Offering will have a minimum subscription of 6,000 units ($7,500.00) and
1,000 increments thereafter. The flow-through common shares will be 100%
eligible for Canadian Exploration Expense (CEE) as defined by the Canadian
Income Tax Act.
The Company has agreed to pay a finder's fee of 6.5% payable in cash and a
6.5% finder's option will be payable to registered dealers and arm's length
third parties. The Finders option will entitle the holder to acquire that
number of common shares equal to 6.5% of the of the number of flow-through
units sold, exercisable at a price of $1.25 per share, for a period of twelve
(12) months following closing date.
Monies raised from this financing will be used toward completing the updated
resource estimate and the Feasibility Study at Schaft
Creek.
About Copper Fox
Copper Fox is a Canadian based resource company listed on the TSX-Venture
Exchange (CUU-TSX-V). Copper Fox was recently recognized by TSX Venture Inc.
as a member of the distinguished TSX Venture 50(r) group where it had the
distinction of being ranked first overall for 2010.
The Company is focused on completing a Feasibility Study on the Schaft Creek deposit, one of the largest undeveloped
copper, gold, molybdenum and silver deposits in North America. Categorized as
a "giant porphyry deposit" this project is at the advanced
development stage with a Preliminary Feasibility Study ("PFS")
prepared by Samuel Engineering, Inc. of Denver, Colorado, in September 2008.
The results of the PFS were extremely "robust" reporting a NPV @ 8%
(before tax) of $2.8 billion dollars over a 23 year mine life. They
contemplated processing 100,000 tonne per day
("tpd") from an open pit mine using a
standard flotation recovery process. The PFS estimated the current Mineral
Resources (using a 0.2% copper equivalent cutoff) at Schaft
Creek includes; Measured Resources of 436.5 million tonnes grading 0.30% copper, 0.23 g/t gold, 0.02%
molybdenum and 1.55 g/t silver, Indicated Resources of 929.8 million tonnes grading 0.23% copper, 0.15 g/t gold, 0.02%
molybdenum and 1.56 g/t silver.
A Feasibility Study is being led by Wardrop, A
Tetra Tech Company on a minimum 120,000 tpd open
pit mine and the study is expected to be completed by the end of June 2011.
Copper Fox holds title and a 100% working interest in a contiguous 21,025 hectares
(51,954 acres) property which includes the Schaft
Creek deposit subject to certain royalty agreements, a 30% carried interest
held by Liard Copper and an earn back option held by Teck
Resources Limited ("Teck"). Copper Fox is
currently earning a 78% interest in Liard Copper from Teck.
Teck's earn back option to acquire 20%, 40% or 75%
of the Schaft Creek project is triggered upon
completion of a positive Feasibility Study. Should Teck
elect to exercise its option for 75% they are required to fund subsequent
property expenditures up to a total of 400% of those incurred by Copper Fox
($57.2 million as of December 31, 2010) and arrange for project financing,
including the Copper Fox portion. For full details
of the option please refer to the Company's website www.copperfoxmetals.com.
*United States investors are advised that current Mineral Resources are
not current Mineral Reserves and do not have demonstrated economic viability.
All figures are rounded to reflect the relative accuracy of the estimate and
in keeping with "best practice principles".
For additional information contact: Investor line 1-866-913-1910 or J.
Michael Smith, EVP, at 1-604-689-5080
On behalf of the Board of Directors
Elmer B. Stewart
President & Chief Executive Officer
Neither 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
This news release contains "forward-looking
information" within the meaning of the Canadian securities laws.
Forward-looking information is generally identifiable by use of the words
"believes," "may," "plans," "will,"
"anticipates," "intends," "budgets",
"could", "estimates", "expects",
"forecasts", "projects" and similar expressions, and the
negative of such expressions. Forward-looking information in this news
release include statements about the intention to complete and the details
concerning a flow through private placement offering; timing and scope of the
feasibility study for the Schaft Creek project;
estimated timing and amounts of future expenditures and "earn-back"
options; geological interpretations and potential mineral recovery processes.
Information concerning mineral reserve and resource estimates also may be
deemed to be forward-looking information in that it reflects a prediction of
the mineralization that would be encountered if a mineral deposit were
developed and mined.
The forward-looking information contained in this news release, Copper Fox
has made numerous assumptions , regarding, among
other things: the geological, metallurgical, engineering, financial and
economic advice that Copper Fox has received is reliable, and is based upon
practices and methodologies which are consistent with industry standards; and
the continued financing of the Feasibility Study; and the anticipated
analytical results of the current drilling program. While Copper Fox
considers these assumptions to be reasonable, these assumptions are
inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause
Copper Fox's actual results, performance or achievements to be materially
different from any future results, performance or achievements expressed or
implied by the forward-looking information contained herein. Known risk
factors include, among others: the flow through private placement financing may
not close or close on the terms currently contemplated by Copper Fox; the
Feasibility Study may not be completed within the contemplated time frame, or
at all; the possibility that the analytical results from the core sampling
does not return significant grades of copper mineralization; the possibility
that future drilling on the Schaft Creek project
may not occur on a timely basis, or at all; fluctuations in copper and other
commodity prices and currency exchange rates; uncertainties relating to
interpretation of drill results and the geology, continuity and grade of
mineral deposits; uncertainty of estimates of capital and operating costs,
recovery rates, and estimated economic return; the need to obtain additional
financing to develop properties and uncertainty as to the availability and
terms of future financing; the possibility of delay in exploration or
development programs or in construction projects and uncertainty of meeting
anticipated program milestones; uncertainty as to timely availability of
permits and other governmental approvals.
A more complete discussion of the risks and uncertainties facing Copper Fox
is disclosed in Copper Fox's continuous disclosure filings with Canadian
securities regulatory authorities at www.sedar.com. All forward-looking information herein is
qualified in its entirety by this cautionary statement, and Copper Fox
disclaims any obligation to revise or update any such forward-looking
information or to publicly announce the result of any revisions to any of the
forward-looking information contained herein to reflect future results,
events or developments, except as required by law.
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Copper Fox Metals Inc.
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DEVELOPMENT STAGE |
CODE : CUU.V |
ISIN : CA21749Q1046 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Copper Fox is a copper development stage company based in Canada. Copper Fox develops copper, gold, molybdenum and silver in Canada. Its main asset in development is SCHAFT CREEK in Canada. Copper Fox is listed in Canada. Its market capitalisation is CA$ 96.3 millions as of today (US$ 69.9 millions, € 65.6 millions). Its stock quote reached its highest recent level on April 21, 2011 at CA$ 2.63, and its lowest recent point on March 13, 2020 at CA$ 0.01. Copper Fox has 427 809 984 shares outstanding. |
Annual reports of Copper Fox Metals Inc. |
Financings of Copper Fox Metals Inc. |
7/1/2016 | Announces Closing of the Second placement |
4/8/2013 | Announces Closing of a $2,653,000 Financing |
2/22/2013 | announces a $2,500,000 Private Placement Unit Offering, insi... |
1/22/2013 | ANNOUNCES the Closing of a $1,500,000 Financing by an Inside... |
1/16/2013 | Announces a $1,500,000 Private Placement Unit Offering, Insi... |
1/16/2013 | Announces a $1,500,000 Private Placement Unit Offering, Insi... |
10/24/2012 | ANNOUNCES the Closing of a $2,500,000 Financing by an Inside... |
9/14/2012 | Announces the Closing of a $4,025,000 Financing by an Inside... |
7/23/2012 | ANNOUNCES a $4,025,000 Private Placement Unit Offering, Insi... |
6/18/2012 | Announces A $4,480,000 Private Placement Unit Offering Insid... |
1/30/2012 | Announces The Closing Of $2,200,000 Financing By An Insider |
1/19/2012 | Announces a $2,200,000 Private Placement Unit Offering Insid... |
12/14/2011 | Announces the Closing of $4,000,000 Financing by an Insider |
12/7/2011 | Announces Increase of $2,000,000 to previously announced Pri... |
10/5/2011 | Announces the Closing of $5,000,000 Financing by an Insider |
9/13/2011 | Announces an Additional $2,000,000 Private Placement Unit Of... |
9/8/2011 | announces a $3,000,000 Private Placement Unit Offering. Ins... |
3/31/2011 | ANNOUNCES THE ACCELERATION TERM TO BE APPLIED TO THE EXPIRY ... |
3/17/2011 | CLOSING OF A $3,750,000 NON BROKERED PRIVATE PLACEMENT FLOW-... |
2/17/2011 | Announces a $3,750,000 Non Brokered Private Placement Flow-T... |
10/22/2009 | closing of a $2,000,000 Private Placement Unit Offering |
9/28/2009 | $2,000,000 Private Placement |
6/23/2009 | Provides Update on its $6,000,000 Private Placement |
6/19/2009 | Updates on its $6,000,000 private placement |
6/2/2009 | announces a $6,000,000 non-brokered Private Placement of whi... |
12/16/2008 | Announces the Withdrawal of a Private Placement Financing |
11/7/2008 | ANNOUNCES PRIVATE PLACEMENT FINANCING |
11/7/2008 | Announces Private Placement Financing |
5/15/2008 | closes Non Brokered Private Placement Financing of $12,398,2... |
7/17/2007 | to raise $10,000,000 in flow-through and non-flow-through fu... |
7/17/2007 | Intends to offer a brokered private placement |
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Option Grants of Copper Fox Metals Inc. |
Nominations of Copper Fox Metals Inc. |
Financials of Copper Fox Metals Inc. |
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Project news of Copper Fox Metals Inc. |
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Corporate news of Copper Fox Metals Inc. |
6/29/2016 | Copper Fox Announces 2016 Second Quarter Financial Results |
6/10/2016 | Copper Fox Announces a $1,000,000 Non-Brokered Private Place... |
3/31/2016 | Copper Fox Announces 2016 First Quarter Financial Results |
3/30/2016 | Copper Fox Annnounces 2016 Schaft Creek Program |
1/25/2016 | Copper Fox Announces Mineral Mountain Copper Project in Ariz... |
12/24/2015 | Copper Fox Files Van Dyke Technical Report on SEDAR |
12/22/2015 | Copper Fox Announces $1,650,000 Non-Brokered Private Placeme... |
11/6/2015 | Copper Fox Provides Update of Activities |
9/29/2015 | Copper Fox Announces Third Quarter Results |
9/25/2015 | Copper Fox Extends Size of Exploration Target on Sombrero Bu... |
9/8/2015 | Copper Fox Reports Large Chargeablity Signature on Sombrero ... |
7/28/2015 | Copper Fox Provides Update of Activities |
7/13/2015 | Copper Fox Commences Titan-24 DCIP Survey at Sombrero Butte ... |
4/15/2015 | Copper Fox Announces Preliminary Results of Metallurgical Te... |
4/8/2015 | Copper Fox Announces Commencement of Preliminary Economic As... |
3/31/2015 | Copper Fox Annnounces First Quarter Results |
3/17/2015 | Copper Fox Annnounces 2015 Schaft Creek Program |
3/13/2015 | Copper Fox Receives $3.63 Million Cash Refund |
3/12/2015 | Copper Fox Extends Warrant Expiry Dates and Announces AGM Da... |
2/27/2015 | Copper Fox Announces Annual Results |
2/9/2015 | Copper Fox Updates Schaft Creek Project Activities |
2/3/2015 | Copper Fox Files Van Dyke Technical Report on SEDAR |
1/15/2015 | Copper Fox Completes Top-Up Investmentin Carmax Mining Corp. |
12/24/2014 | Copper Fox Provides Corporate Update on Project Activities |
12/19/2014 | Copper Fox Completes Inferred Mineral Resource Estimate for ... |
12/3/2014 | Copper Fox Announces Preliminary In-Situ Leach Test Results ... |
10/28/2014 | Copper Fox Announces Commencement of Resource Estimate at Va... |
10/23/2014 | Copper Fox Announces Update on Schaft Creek Project |
9/25/2014 | Copper Fox Completes Top-Up Investment in Carmax Mining Corp... |
9/23/2014 | Copper Fox Announces Third Quarter Results |
9/10/2014 | Copper Fox Announces Van Dyke Drill Results and Provides Oth... |
8/7/2014 | Copper Fox Announces Van Dyke Drill Results and Provides Cor... |
7/21/2014 | Copper Fox Completes Van Dyke Drilling Program and Provides ... |
6/18/2014 | Copper Fox Announces Second Quarter Results |
5/29/2014 | Copper Fox Closes Carmax Investment |
5/23/2014 | Copper Fox Announces Carmax Shareholders Approve Private Pla... |
5/15/2014 | Copper Fox Adds Second Drill to Van Dyke Project and Provide... |
12/3/2013 | s Activities on Van Dyke Copper Deposit in Arizona |
11/19/2013 | Sampling locates two large areas of porphyry style copper-mo... |
8/30/2013 | announces a corporate reorganization |
8/12/2013 | provides update on corporate activities |
7/16/2013 | (Schaft Creek)And Teck Resources Form Schaft Creek Joint Venture |
6/5/2013 | (Schaft Creek)provides update on discussions regarding Schaft Creek |
2/7/2013 | (Schaft Creek)Completes Land Acquisitions at Schaft Creek & Sombrero Butte... |
1/17/2013 | Announces Extension Of Expiry Date Of Certain Stock Options |
10/17/2012 | (Schaft Creek)Reports Diamond Drill Results From the 2012 Drilling Program... |
9/25/2012 | (Schaft Creek)Reports the Status of the Schaft Creek Feasibility Study and... |
9/25/2012 | (Schaft Creek)Reports the Status of the Schaft Creek Feasibility Study and... |
9/4/2012 | Drilling Indicates Widespread Mineralization in the Discover... |
8/2/2012 | (Schaft Creek)Drilling Extends Mineralization In Discovery Zone And Acquir... |
2/16/2012 | (Schaft Creek)Locates a New Zone of Copper Mineralization 1,200M North of ... |
1/23/2012 | Announces The Issuance Of 1,272,727 Shares For Outstanding ... |
1/13/2012 | Announces Shares For Debt Agreement |
9/6/2011 | (Schaft Creek)Drilling Intersects 0.81% Copper Equivalent Over 154m at Sch... |
7/11/2011 | (Schaft Creek)Measured and Indicated Resource Estimate Exceeds 1 Billion T... |
6/21/2011 | (Schaft Creek)High Resolution Magnetic Survey at Schaft Creek Confirms Sim... |
4/13/2011 | Announces Completion of 3D Model and Award of High-Resolutio... |
4/13/2011 | ANNOUNCES COMPLETION OF 3D MODEL AND AWARD OF HIGH-RESOLUTIO... |
6/17/2010 | June 17 2010 news release |
6/1/2010 | June 1 2010 News release |
2/2/2010 | Feb 2 2010 news release |
1/21/2010 | Jan 21, 2010 |
10/23/2009 | New release attached |
10/22/2009 | announces the closing of a $2,000,000 Private Placement Unit... |
9/17/2009 | Applauds Federal Government’s Support for British Columbia N... |
9/17/2009 | Applauds Federal Government's Support for British Columbia N... |
7/13/2009 | Special Shareholders Meeting Approves a New control Person -... |
7/13/2009 | July 13, 2009 News release |
6/30/2009 | Three and Six Months Ended April 30, 2009 |
6/26/2009 | June 25, 2009 news release |
3/3/2009 | Annual Financial |
2/27/2009 | Feb 26, 2009 News release |
2/27/2009 | Lions Gate Metals Inc. and Copper Fox Metals Inc. Announce B... |
2/12/2009 | Correct News release |
2/12/2009 | Feb 11 09 News release |
2/12/2009 | provides an update of Corporate Activities |
2/3/2009 | Highway 37 Power Line Coalition Applauds Premier for Express... |
1/22/2009 | Cambridge House Invitation - Vancouver |
12/18/2008 | December 17 2008 News release |
12/18/2008 | Announces Resignation Of A Director |
9/30/2008 | Sept 30/08 |
9/29/2008 | Applauds Advancement of Northwest Power Line |
9/29/2008 | Applauds Advancement of Northwest Power Line |
9/26/2008 | Northwest Power Line Could Create Thousands of Jobs, Attract... |
9/17/2008 | Schaft not Galore says Copper Fox president |
9/2/2008 | LV Hard Assets Conference Personalized Html |
7/17/2008 | from the Ministry of Energy, Mines and Petroleum Resources r... |
6/26/2008 | June 26 2008 Options |
6/26/2008 | June 26, 2008 |
5/26/2008 | Register Today for a Discounted Rate to the New Orleans 2008... |
4/4/2008 | Applauds Advancement of Northwest Power Line Study |
3/31/2008 | $16mm offering |
11/15/2007 | announces the renewal of the engagement of Jason Shepherd fo... |
10/12/2007 | Announces is has earned a 70% Direct Interest in the World C... |
10/2/2007 | $400 million to empower B.C.'s far northwest |
8/8/2007 | Drilling to Commence at Copper Flats |
7/12/2007 | Press Release: Augusta Files Plan of Operations for Rosemont... |
7/3/2007 | 2nd Quarter Financials |
6/11/2007 | announces its request for a trading halt |
5/4/2007 | and the Tahltan Nation Development Corporation complete a "M... |
4/22/2007 | Adopts a Shareholder Rights Plan. |
2/27/2007 | Welcomes New Executive to the Team |
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