/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
VANCOUVER, June 4 /CNW/ - Copper Mountain Mining Corporation ("CMMC" or
the "Company) announces that it has amended the terms of the offering referred
to in the Company's news release of May 13, 2008, in which the Company
announced it had filed a preliminary prospectus in respect of an offering
which is being conducted on a best efforts agency basis led by Jennings
Capital Inc. and including Canaccord Capital Corporation (collectively, the
"Agents"). The Company has agreed with the Agents to amend the terms of the
financing to raise gross proceeds of up to $15 million by way of issuing up to
7,142,857 units (the "Units") at a price of $2.10 per Unit (the "Offering").
Each Unit is comprised of one common share ("Share") of the Company and
one-half of one Share purchase warrant of the Company, each whole warrant
("Warrant") being transferable and exercisable to acquire one Share of the
Company ("Warrant Shares") at an exercise price of $2.50 per Share for a
period of 12 months after the closing date. The shares and warrants
distributed under the Offering will be qualified by way of a long form
In consideration for the services to be rendered by the Agents under the
Offering, the Agent will receive a cash commission equal to 6% of the
aggregate gross proceeds of the Offering. The Agent will also receive agent
warrants ("Agent's Warrants") exercisable to purchase that number of Shares
that is equal to 6% of the aggregate number of Units sold under the Offering.
Each Agent's Warrant will entitle the holder to acquire one Share at a price
of $2.10 for a period of 12 months from the date of closing of the Offering.
In addition, the Company has agreed to grant the Agent's an over-allotment
option of up to 2,380,952 Units for additional aggregate gross proceeds of up
to $5 million exercisable anytime up to 48 hours prior to closing which
scheduled on or about June 12, 2008.
The Offering is subject to the Company receiving all applicable
regulatory and TSX Venture Exchange approvals and completion of definitive
documentation. Proceeds from the Offering will be used to advance payments for
long lead items, infrastructure upgrading, advancing the exploration program
at the Copper Mountain Project and for general and working capital purposes.
About Copper Mountain Mining Corp.:
CMMC is a new public BC resource company managed by an experienced team
of professionals with a solid track record of exploration and development
success. The Company owns 100% the Copper Mountain Project which holds the
mineral claims and crown grants over the 18,000 acre mine site. Copper
Mountain Mining Corp. has the goal of developing the Copper Mountain Project
as a mid tier copper and precious metal producer within the next three years.
Additional information is available on the Company's web page at
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
Director and Chief Financial Officer
Note: This release contains forward-looking statements that involve risks
and uncertainties. These statements may differ materially from actual future
events or results. Readers are referred to the documents, filed by the Company
on SEDAR at www.sedar.com, specifically the most recent reports which identify
important risk factors that could cause actual results to differ from those
contained in the forward-looking statements. The Company undertakes no
obligation to review or confirm analysts' expectations or estimates or to
release publicly any revisions to any forward-looking statement.
The Units, including the common stock, warrants and shares underlying the
warrants, offered are not currently qualified by prospectus or registered
under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or
the laws of any state, and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements. The securities are subject to resale restrictions under
applicable securities laws.
For further information:
For further information: Don Graham, Director, Investor Relations, (604)
682-2992 ext. 224, Email: don@CuMtn.com; or B&D Capital, (604) 685-6465