Copper North Announces Closing of Private Placement

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• Publié par: copper-north-mining-corp
• Nombre de lectures: 29
• Langue: English

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Copper North Announces Closing of Private Placement

PR Newswire VANCOUVER, December 20, 2012

VANCOUVER,December 20, 2012/PRNewswire/ --

Copper North Mining Corp. ("Copper North" or the "C ompany") (TSX.V: COL) announces that it has closed a non- brokered private placement, which included certain insiders of the Company, of 5,169,000 units of the Company (the "Units") at a price of$0.15per Unit for aggregate gross proceeds of$775,350(the "Private Placement").

Each Unit consists of one common share in the capital of the Company (a "Share") and one-half of a non- transferable common share purchase warrant (each whole such warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional Share at a price of$0.20. The Warrants expire onDecember 20, 2014.

Should the volume-weighted average trading price of the Shares equal or exceed$0.30over a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants to the day which is 30 days after the notice of acceleration has been sent to the holders of the Warrants.

InconnectionwiththeclosingofthePrivatePlacement,theCompanyhasagreedtopayCrimsonCapitalofZurich, Switzerland a 5% finder's fee of$3,225for their efforts in sourcing certain participants for the Private Placement.

The Private Placement is subject to final acceptance by the TSX Venture Exchange. All securities issued and issuable as part of the Private Placement are subject to a hold period of four (4) months and one day and as such may not be traded untilApril 21, 2013.

About Copper North

Copper North is a Canadian mineral exploration and development company. Copper North's assets include the Carmacks Copper Project located in the Yukon, and the high-grade, stratiform-copper Redstone Property, located in the Northwest Territories. Copper North trades on the TSX Venture Exchange under the symbol COL.

Please visithttp://www.coppernorthmining.com.

On behalf of the Board of Directors:

"Sally L. Eyre"

Dr. Sally L. Eyre President, CEO and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: Peter Oates, Manager, Investor Relations Tel: [phone] Email:[e-mail] Web:http://www.coppernorthmining.com Renmark Financial Communications Tel: [phone] Email:[e-mail] Web:http://www.renmarkfinancial.com

(COL.)