Trading April 25 on the Canadian Stock Exchange with Ticker CASC
Calgary, Alberta– April 24, 2023. Cascade Copper Corp. (CSE: “CASC”) (“Cascade” or the “Corporation”) is pleased to announce that it has completed its initial public offering of 10,000,000 units (“Units”), at a price of $0.10 per Unit, for gross proceeds of $1,000,000 (the “Offering”). Each Unit consists of one common share in the capital of the Corporation (“Common Share”) and one Common Share purchase warrant (“Warrant”) of the Corporation. Each Warrant entitles the holder thereof to acquire, subject to adjustment in accordance with the warrant indenture governing the Warrants, one Common Share at an exercise price of $0.15 at any time prior to 5:00 p.m. (Toronto time) on October 24, 2024, being the date that is 18 months following the date of issue. The Common Shares of the Corporation are expected to commence trading on the CSE on April 25, 2023 under the trading symbol “CASC”.
The Corporation is an exploration stage natural resource company engaged in the evaluation, acquisition and exploration of mineral resource properties with the intention, if warranted, of placing them into production. Cascade is focused on exploration, development and acquisition of quality exploration properties. More specifically, Cascade’s objective is to conduct an exploration program on its flagship Rogers Creek Property located in the Coastal Mountain Belt of British Columbia about 90 kilometres northeast of Vancouver, in the Southwest Mining Region. Cascade currently has three projects, with its core project being the Rogers Creek Property. The Rogers Creek Property is comprised of 10 mineral claims within two non-contiguous blocks covering approximately 10,586 hectares or about 105.86 square kilometres. The Rogers Creek Property is currently being operated and explored by Cascade. Refer to the Corporation’s Prospectus dated January 24, 2023 on www.sedar.com for details of the Rogers Creek Property and the exploration program.
Leede Jones Gable Inc. (the “Agent”) acted as agent under the Offering. For its services, the Agent, and its subagents, received a corporate finance fee, a cash commission equal to 10% of the gross proceeds of the Offering, and Agent’s Warrants to purchase 1,000,000 Common Shares of the Corporation at an exercise price of $0.10 exercisable within 18 months from the listing date.
The Corporation intends to use the net proceeds from the Offering to: (i) carry out Phase I of the exploration program on the Rogers Creek Property recommended pursuant to the technical report entitled “NI 43-101 Technical Report for the Rogers Creek Copper-Gold Project, Southwestern British Columbia, Canada” within the Lillooet Mining Division, with an effective date of January 10, 2023, (ii) pay the balance of the estimated costs of the Offering, list on the CSE and pay other accrued expenses, (iii) payment to the Bendor and Fire Mountain Property Owners, and (iv) for general and administrative purposes, option payments and working capital requirements.
FOR FURTHER INFORMATION, PLEASE CONTACT:
CASCADE COPPER CORP.
Jeffrey S. Ackert, President and CEO
820-1130 West Pender St.
Vancouver, BC V6E 4A4
Telephone: 1 613 851 7699
E-Mail: [email protected]
Web: www.cascadecopper.com
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
