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Copper Fox announces a $2,500,000 Private Placement Unit Offering, insider commits to 100% participation
Published : February 22, 2013
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Keywords :   Copper | Molybdenum | Recovery | Silver |

Copper Fox announces a $2,500,000 Private Placement Unit Offering, insider commits to 100% participation

VANCOUVER, Feb. 22, 2013 /CNW/ - Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX-V: CUU) is pleased to announce that subject to the approval of the TSX-Venture Exchange, the Company intends to complete a non-brokered Private Placement to raise up to CDN $2,500,000 (the "Offering"). The Offering is expected to consist of 3,164,557 Units at a Purchase Price of $0.79 per Unit, for aggregate gross proceeds of $2,500,000. Each Unit consists of one common share and one common share purchase warrant of Copper Fox. Each Warrant entitles the holder thereof to acquire one common share of Copper Fox at an exercise price of $1.00 prior to 5:00 pm on the one year anniversary of closing of the Offering.

Mr. Ernesto Echavarria, a Director, insider, and control person of Copper Fox as defined by the policies of the TSX-Venture Exchange, has committed to 100% participation of this Offering.

Monies raised from the Offering will be used to fund costs associated with the Environmental Assessment Application, development expenses of the Companies Schaft Creek and Arizona projects, and general operating expenses.

About Copper Fox
Copper Fox is a Canadian-based resource development company listed on the TSX Venture Exchange (TSX-V: CUU) with a corporate office in Calgary, Alberta and an operations office in Vancouver, British Columbia.  Its major asset is the Schaft Creek copper, gold, molybdenum and silver deposit located in northwestern British Columbia, Canada for which a positive Feasibility Study was recently completed and filed on www.sedar.com.

Copper Fox holds title and a 100% working interest in the Schaft Creek project consisting of 56,267.54 hectares (139,040 acres).  Included in this total are the "Schedule A" mineral tenures originally conveyed to Copper Fox pursuant to the Teck Option Agreement, which consist of 8,334.34 hectares (20,594 acres).  The "Schedule A" mineral tenures are subject to a 3.5% Net Profits Interest held by Royal Gold, Inc., a 30% carried Net Proceeds Interest held by Liard and, together with the additional mineral tenures  obtained by Copper Fox  within the "Area of Interest" provided for in the Teck Option Agreement, an earn back option held by Teck.  On completion of the Feasibility Study, Copper Fox earns Teck's 78% interest in Liard.  Teck's earn back option to acquire either, 20%, 40% or 75%, of Copper Fox's interest in the Schaft Creek Project is triggered upon delivery of a "Positive Bankable Feasibility Study" (as defined) to Teck after which they have 120 days to make a decision.  Should Teck elect to exercise its option for 75%, Teck is required to fund subsequent property expenditures up to a total of 400% of those incurred by Copper Fox ($85.34 million to December 31, 2012) and use its best efforts to arrange for project financing, including the Copper Fox portion.  For full details of the Teck earn back option please refer to the Company's website www.copperfoxmetals.com.

The remainder of Copper Fox's registered interests in mineral tenures in British Columbia total 47,933.19 hectares (118,445 acres). These interests have been acquired by Copper Fox through mineral tenure acquisitions and mineral tenure purchase agreements subsequent to Copper Fox entering into the Teck Option Agreement. Certain portions of these registered mineral tenures are subject to inclusion within the Schaft Creek Project pursuant to the terms of the "Area of Interest" provision of the Teck Option Agreement.

Additionally the Company holds, through wholly-owned subsidiaries, mineral tenures located in Pinal County, Arizona (the 'Sombrero Butte Copper Project') and in Miami, Arizona (the 'Van Dyke BLM Claims').  For further information on these mining projects please refer to the Company's web site at www.copperfoxmetals.com.

On behalf of the Board of Directors

Elmer B. Stewart
President and 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 includes statements about statements about the intention to complete a Private Placement in the amount of $2,500,000; use of proceeds from the intended Private Placement; the delivery of a "Positive Bankable Feasibility Study" (as defined) and the timing and exercise of "earn back options" potential existence and size of mineralization within the Schaft Creek project; estimated timing and amounts of future expenditures; geological interpretations and potential mineral recovery processes.

In connection with the forward-looking information contained in this news release, Copper Fox has made numerous assumptions, regarding, among other things: the potential mineralization in the Schaft Creek deposit; the acceptance by Teck of the positive Feasibility Study as a "Positive Bankable Feasibility Study" (as defined); the commencement of the 120 day period for Teck to exercise its earn back rights; that expenditures have been incurred in accordance with the Teck Option Agreement and in Company's expected quantum; 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.  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 Private Placement may not close on the terms currently anticipated, or at all; Copper Fox may not use the proceeds from this Private Placement as disclosed herein; Teck may not accept that the delivery of the positive Feasibility Study constitutes delivery of a "Positive Bankable Feasibility Study" as defined pursuant to the terms of the Teck Option Agreement; the 120 day period that Teck has to exercise its earn back rights may not have commenced;  the "Expenditures" may not constitute Expenditures as defined in the Teck Option Agreement in the quantum anticipated by Copper Fox, or at all; the actual mineralization in the Schaft Creek deposit may not be as favourable as suggested; another deposit may never be discovered on Copper Fox's property, or contain anticipated mineralization, or mineralization of any significance at all; a detailed mine plan may not be completed in a timely manner, or at all; the possibility that future drilling on the Schaft Creek project may not occur on a timely basis, or at all; fluctuations in copper, the completed drill holes for which analytical results are not available may not return significant concentrations of either copper, gold, molybdenum or silver; commodity prices and currency exchange rates; conditions in the financial markets and overall economy may continue to deteriorate; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of the metallurgical testwork, the uncertainty of the 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.

SOURCE: Copper Fox Metals Inc.

For further information:

Investor line 1-866-913-1910 or J. Michael Smith, EVP, at 1-604-689-5080.

Companies Mentionned : Copper Fox | Metals X | Mineral Deposits | Royal Gold | Teck | Total |
Data and Statistics for these countries :
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Copper Fox Metals Inc.

DEVELOPMENT STAGE
CODE : CUU.V
ISIN : CA21749Q1046
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Annual reports of Copper Fox Metals Inc.
2007 Annual report
2006 Annual report
Financings of Copper Fox Metals Inc.
4/8/2013Announces Closing of a $2,653,000 Financing
3/8/2013announces increase in previously announced private placement...
2/22/2013announces a $2,500,000 Private Placement Unit Offering, insi...
1/22/2013ANNOUNCES the Closing of a $1,500,000 Financing by an Inside...
1/16/2013Announces a $1,500,000 Private Placement Unit Offering, Insi...
1/16/2013Announces a $1,500,000 Private Placement Unit Offering, Insi...
12/7/2012Announces Warrant Extension
10/24/2012ANNOUNCES the Closing of a $2,500,000 Financing by an Inside...
9/14/2012Announces the Closing of a $4,025,000 Financing by an Inside...
7/23/2012ANNOUNCES a $4,025,000 Private Placement Unit Offering, Insi...
6/18/2012Announces A $4,480,000 Private Placement Unit Offering Insid...
1/30/2012Announces The Closing Of $2,200,000 Financing By An Insider
1/19/2012Announces a $2,200,000 Private Placement Unit Offering Insid...
12/14/2011Announces the Closing of $4,000,000 Financing by an Insider
12/7/2011Announces Increase of $2,000,000 to previously announced Pri...
11/21/2011announces a $2,000,000 Private Placement Unit Offering. Ins...
10/18/2011announces a $2,000,000 Private Placement Unit Offering.
10/5/2011Announces the Closing of $5,000,000 Financing by an Insider
9/13/2011Announces an Additional $2,000,000 Private Placement Unit Of...
9/8/2011announces a $3,000,000 Private Placement Unit Offering. Ins...
3/31/2011ANNOUNCES THE ACCELERATION TERM TO BE APPLIED TO THE EXPIRY ...
3/17/2011CLOSING OF A $3,750,000 NON BROKERED PRIVATE PLACEMENT FLOW-...
2/17/2011Announces a $3,750,000 Non Brokered Private Placement Flow-T...
12/16/2010Announces the Closing of a $4,005,000 Non Brokered Private P...
11/18/2010$4,005,000 NON BROKERED PRIVATE PLACEMENT FLOW-THROUGH OFFER...
10/22/2009closing of a $2,000,000 Private Placement Unit Offering
9/28/2009$2,000,000 Private Placement
6/23/2009Provides Update on its $6,000,000 Private Placement
6/19/2009 Updates on its $6,000,000 private placement
6/2/2009announces a $6,000,000 non-brokered Private Placement of whi...
12/16/2008Announces the Withdrawal of a Private Placement Financing
11/7/2008ANNOUNCES PRIVATE PLACEMENT FINANCING
11/7/2008Announces Private Placement Financing
5/15/2008closes Non Brokered Private Placement Financing of $12,398,2...
7/17/2007to raise $10,000,000 in flow-through and non-flow-through fu...
7/17/2007Intends to offer a brokered private placement
Option Grants of Copper Fox Metals Inc.
4/30/2012Announces Incentive Stock Option Grants
3/14/2011Grant of 1,700,000 shares at $ 1,69 par share
6/26/2008grant of incentive stock options to Employees, Officers, Con...
Nominations of Copper Fox Metals Inc.
5/3/2011ANNOUNCES RESIGNATION OF CFO, APPOINTMENT OF AN INTERIM CFO
7/16/2009Announces Executive Changes and the Appointment of a Directo...
9/17/2007Announces the appointment of Shane Uren as Vice President
Financials of Copper Fox Metals Inc.
9/28/2013Announces Third Quarter Results
6/24/2013Announces Second Quarter Results
2/14/2013Reports 2012 Annual Financial Results
9/27/2012Announces Third Quarter Results
6/18/2012Announces Second Quarter Results
4/25/2012Announces First Quarter Results
2/29/2012Reports 2011 Annual Financial Results and a Corporate Update
9/29/2011Reports 2011 Third Quarter Financial Results and a Corporate...
6/30/2011Advances Feasibility Study and Reports 2011 Second Quarter F...
3/31/2011Announces First Quarter 2011 Highlights and Financial Result...
2/16/2011Announces Fourth Quarter Highlights and 2010 Year-End Financ...
9/23/2010REPORTS THIRD QUARTER FINANCIAL RESULTS AND OPERATING ACTIVI...
2/25/2010Announces 2009 Year-End Financial Results
4/1/2009First Quarter Results Three Months Ended January 31, 2009
3/31/2009First Quarter Financials
3/6/20092008 Year-end Financial Results
6/4/2008Second Quarter Results Three and Six Months Ended April 30, ...
6/3/2008Second Quarter Results
3/31/2008First Quarter Financials
3/27/2008First Quarter Results Three Months Ended January 31, 2008
2/11/20082007 Year-End Financial Results
9/24/2007Announces third quarter results
3/28/2007announces its first quarter results for the three months en...
Project news of Copper Fox Metals Inc.
1/9/2014Outlines 2014 Diamond Drilling Plans for Van Dyke Copper Pro...
11/19/2013Sampling Locates Two Large Areas Of Porphyry Style Copper-M...
4/12/2013Acquires Van Dyke Copper Deposit in Arizona
3/25/2013(Schaft Creek)Enters Into Facilities Study Agreement with BC Hydro for Sch...
2/4/2013(Schaft Creek)Files Positive Feasibility Study on Schaft Creek Project
12/22/2012(Schaft Creek)Announces a Positive Feasibility Study on the Schaft Creek D...
9/10/2012Completes Acquisition Of Sombrero Butte Copper Project And V...
7/9/2012To Acquire From Bell Copper The Van Dyke Copper Deposit And ...
5/31/2012(Schaft Creek)Schaft Creek Resource Estimate Update
5/24/2012(Schaft Creek)Provides Update on Schaft Creek Project
5/10/2012(Schaft Creek)Announces 2012 Exploration Program And Acquires Additional M...
3/27/2012(Schaft Creek)Completes Land Acquisitions Covering Positive Magnetic Linea...
3/19/2012(Schaft Creek)s Activities on the Schaft Creek-Copper-Gold-Molybdenum-Silv...
2/3/2012(Schaft Creek)Announces Drilling Intersect of 0.96% CuEq Over 110m and Rep...
12/12/2011Drilling Expands Paramount Zone with Intersection of 1.10% C...
10/13/2011(Schaft Creek)Secures Shipping Facilities for Concentrate at Port of Stewa...
9/23/2011(Schaft Creek)Extends Mineralized Zone to the East And Completes Strategic...
9/6/2011Welcomes the Awarding of the Construction Contract for the N...
7/26/2011(Schaft Creek)Drilling Intersects 1.18% Copper Equivalent Over 161M at Sch...
5/31/2011(Schaft Creek)Commences 2011 Drilling Program, Updates Other Activities ...
5/10/2011(Schaft Creek)Welcomes the Federal Government of Canada's Approval of the ...
5/6/2011(Schaft Creek)Provides Update on 2011 Plans for Schaft Creek, Diamond Dril...
5/5/2011(Schaft Creek)FOX PROVIDES UPDATE ON 2011 PLANS FOR SCHAFT CREEK, DIAMOND ...
3/24/2011(Schaft Creek)Announces Strategic Acquisitions to Enlarge Schaft Creek Pro...
2/28/2011(Schaft Creek)Copper Fox Metals Applauds the Announcement of the Province ...
2/23/2011(Schaft Creek)DDH CF405 Tests Chargeability Anomaly And Expands Zone Of De...
2/14/2011(Schaft Creek)News Release
2/3/2011(Schaft Creek)Latest Assay Results Expands Zone of Deep, Higher Grade Mine...
12/14/2010(Schaft Creek)Drilling Continues to Intersect Deep Higher Grade Copper-Gol...
11/16/2010(Schaft Creek)Geophysical Survey Indicates Deep Potential At Schaft Creek,...
11/4/2010(Schaft Creek)Drilling Intersects Significantly Higher Grade Mineralizatio...
9/17/2010(Schaft Creek)Updates Activities and Plans at Schaft Creek
7/28/2010(Schaft Creek)IP Survey Significantly Expands Potential of Schaft Creek De...
6/18/2010files an amended Preliminary Feasibility Study on SEDAR
6/1/2010(Schaft Creek)on Track to Complete the Feasibility Study at Schaft Creek b...
4/1/2010s Status of Feasibility Study and Reports 2010 First Quarter...
2/2/2010(Schaft Creek)Acquires 100% Interest in Schaft Creek Project
1/21/2010(Schaft Creek)Awards Feasibility Study On Schaft Creek Project
11/18/2009(Schaft Creek)Geophysical Survey Outlines "8" IP Anomalies at Schaft Creek...
10/23/2008(Schaft Creek)announces new high grade copper and gold intervals from assa...
9/15/2008Positive Results of Preliminary Feasibility Study on Schaft ...
9/15/2008Announces Positive Results of Preliminary Feasibility Study ...
7/14/2008(Schaft Creek)Strategic Drilling Program and Greenfield Camp Expansion Hig...
6/26/2008(Schaft Creek)2007 Drilling And Geophysical Results All Show Increased Pot...
3/20/2008(Schaft Creek)Announces Schaft Creek progress
11/27/2007(Schaft Creek)continues development of its Schaft Creek British Columbia m...
11/27/2007(Schaft Creek) Continues Development of its Schaft Creek British Columbia ...
10/22/2007(Schaft Creek)'Pit Optimization Study Demonstrates 65,000-tonne per-day Op...
7/10/2007(Schaft Creek)Updates 2007 Schaft Creek Work Program
7/4/2007(Schaft Creek)Significantly Increases Resources at Schaft Creek
Corporate news of Copper Fox Metals Inc.
2/12/2014Announces Annual Results
12/19/2013(Schaft Creek)Reports Successful Diamond Drill Results from 2013 Drilling ...
12/3/2013s Activities on Van Dyke Copper Deposit in Arizona
11/19/2013Sampling locates two large areas of porphyry style copper-mo...
8/30/2013announces a corporate reorganization
8/12/2013provides 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...
1/17/2013Announces 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...
9/4/2012Drilling 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 ...
1/23/2012Announces The Issuance Of 1,272,727 Shares For Outstanding ...
1/13/2012Announces Shares For Debt Agreement
11/15/2011(Schaft Creek)Drilling Intersects 0.91% Copper Equivalent over 387M at Sch...
10/17/2011(Schaft Creek)IP Survey Significantly Expands Potential and Locates Potent...
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...
4/13/2011Announces Completion of 3D Model and Award of High-Resolutio...
4/13/2011ANNOUNCES COMPLETION OF 3D MODEL AND AWARD OF HIGH-RESOLUTIO...
9/17/2010Updates activities and plans at Schaft Creek
9/20/2010Next Leg of Growth in the Copper Supply Chain
9/9/2010Comments on Trading of its Common Shares
6/17/2010June 17 2010 news release
6/1/2010June 1 2010 News release
2/2/2010Feb 2 2010 news release
1/21/2010Jan 21, 2010
10/23/2009New release attached
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9/17/2009Applauds Federal Government’s Support for British Columbia N...
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7/13/2009Special Shareholders Meeting Approves a New control Person -...
7/13/2009July 13, 2009 News release
6/30/2009Three and Six Months Ended April 30, 2009
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3/3/2009Annual Financial
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2/12/2009Correct News release
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1/22/2009Cambridge House Invitation - Vancouver
12/18/2008December 17 2008 News release
12/18/2008Announces Resignation Of A Director
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10/16/2008Copper Fox Metals Inc. to be featured on The Biography Chann...
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