Cyprium Mining Corporation announces closing the first tranche of unit financing

http://www.stockhouse.com/news/press-releases/2016/04/07/cyprium-mining-corporation-announces-closing-the-first-tranche-of-unit

MONTREAL, April 7, 2016 /CNW/ – Cyprium Mining Corporation (TSX VENTURE: CUG) (“Cyprium” or the “Corporation“), a Canadian-based mining company with operations located in the state of Chihuahua, Mexico, is pleased to announce that, subject to TSX Venture Exchange Inc. approval, it has closed the first tranche of its previously announced private placement of up to 8,000,000 units (the “Units“) at a price of CDN $0.065 per Unit for gross proceeds of up to CDN$520,000 (the “Offering“). Under this first tranche, Cyprium issued 5,890,000 Units for gross proceeds of CDN$382,850 (the “First Tranche“). Each Unit is comprised of one (1) common share in the capital of the Corporation (“Common Share“) and one (1) share purchase warrant of the Corporation (“Warrant“). Each Warrant will be exercisable into one Common Share at an exercise price of CDN$0.10 expiring two (2) years from the date of issuance.

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