Lorraine Copper Announces Private Placement
Vancouver, B.C. Lorraine Copper Corp. (“Lorraine” or the “Company“) announces that, subject to TSX Venture Exchange acceptance, it intends to raise up to $600,000 by way of a unit private placement at a price of $0.10 per unit, with each unit to consist of one common share and one share purchase warrant, with each whole warrant to entitle the holder to purchase an additional common share at a price of $0.20 for a period of 2 years from closing.
The private placement is not subject to any minimum subscriptions, and certain insiders of the Company have agreed to participate, with full particulars of such participation to be included in the news release announcing the closing of these private placements. The proceeds will be used by Lorraine for general working capital.
The securities issued pursuant to these private placements will be subject to a hold period expiring four months and one day from the date of issuance.
About Lorraine Copper
Lorraine Copper holds is a Canadian mineral exploration company that is acquiring and advancing copper, gold and molybdenum projects at intermediate to advanced stages that hold significant resources. Lorraine Copper currently owns three properties all of which have defined resources: Lorraine, OK and Lustdust. For more information please visit the Company’s website at www.lorrainecopper.com.
On behalf of the board of directors of the Company;
David Douglas, CPA, CA
Lorraine Copper Corp.
FOR FURTHER INFORMATION REGARDING LORRAINE COPPER PLEASE CONTACT:
(604) 681-7913 or
(888) 656-6611 (Toll Free)
The TSX – Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.