3rd Quarter Results and Financing

Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

Reply New Message

Prev Message Back To Forum Threaded View Next Message

HayzToo

Rank: Vice President [?]

Points: 1204 [?]

Votes: 53 Score: 3.4 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

3rd Quarter Results and Financing

posted on Sep 26, 2012 12:19PM

This refers to the closing of a PP

Subsequent to July 31, 2012, the Company announced closing of a financing by an insider. The financing consisted of the issuance of 3,500,000 units at a purchase price of $1.15 per unit, for aggregate net proceeds of $4,025,000

================

The following PP mentioned in the Results NR is currently open and yet to have an NR announcing closure

Also subsequent to July 31, 2012, the Company announced that it intends to complete a non-brokered private placement to raise up to CDN $4,000,000.

=============

Additional funds **will be required** to complete the current planned activities and the Company may need additional equity in order to develop the project (Refer to Teck Earn Back Option).

I believe this line farther down in the results NR is indicating that we are going to see yet another placement.

I hate that there is more dilution coming. If this were a poker game, I would willingly admit that I'm pot-committed. I'm not going anywhere. I just wish I had more chips to throw in the pot.

It's early and I haven't finished my coffee, so I'm hoping that some "more-awake" minds will show me how I misread the information.