Cyprium Mining Corporation announces proposed private placement and corporate update

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1004-tsx-venture/cug/17827-cyprium-mining-corporation-announces-proposed-private-placement-and-corporate-update.html

MONTREAL, March 23, 2016 /CNW/ – Cyprium Mining Corporation (TSXV: CUG) (“Cyprium” or the “Company“) is pleased to announce that it intends to complete, on or about April 1st, 2016, a private placement which will help fund the continued activities at the Potosi Mine located in Northern Mexico.

The private placement will consists of up to 8,000,000 units (the “Units“) at a price of $0.065 per Unit for gross proceeds of up to $520,000 (the “Offering“). Each Unit will be comprised of one (1) common share in the capital of the Company (“Common Share“) and one (1) share purchase warrant of the Company (“Warrant“). Each Warrant will be exercisable into one Common Share at an exercise price of $0.10, expiring two (2) years from the date of issuance.

 

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