Vancouver, British Columbia--(Newsfile Corp. - September 14, 2017) - Candente Copper Corp. (TSX: DNT) (BVL: DNT) ("Company") is pleased to report completion of its previously announced and oversubscribed non-brokered private placement (the "Private Placement") (see Company's News Releases No. 094 and 095, dated August 24th and 30th, 2017) raising $1,042,360.
In closing, the Company has issued 11,581,779 units ("Units") at a price of $0.09 per Unit. Each Unit comprises one common share of the Company and one-half of a share purchase warrant, with each whole share purchase warrant being exercisable for 2 years to purchase an additional common share at a price of $0.15 per share, subject to an acceleration provision. If at any time after January 30th, 2018, the Company's common shares have a closing price on the TSX Exchange at or above a price of $0.30 per share for a period of 10 consecutive trading days, the Company may give notice by News Release that expiration of the warrants will be accelerated to 40 days from the date of providing such notice. All shares will be subject to a four month hold period.
Joanne C. Freeze, CEO and Director; and John Black, Director; collectively subscribed for a total of 883,334 Units.
The Company has relied upon exemptions from the valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions.
Finder's fees totalling $37,187 were paid with respect to the Private Placement.
The gross proceeds will be used for working capital and general corporate purposes including ongoing community initiatives in Peru.
On behalf of the Board of Candente Copper Corp.
"Joanne C. Freeze" P.Geo.
For further information please contact:
Manager, Investor Relations
mobile: +1 (604) 306-8477
local: + 1 (604) 689-1957 ext 3