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Attention Business Editors
Copper Mountain Announces $50 Million Equity Offering
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TSX.V: CUM
VANCOUVER, May 13 /CNW/ - Copper Mountain Mining Corporation ("CMMC" or
the "Company) is pleased to announce it has obtained a receipt for the filing
of a preliminary prospectus dated May 9, 2008 in the Provinces of British
Columbia, Alberta and Ontario in respect of an offering of up to
21,739,131 units (the "Units") at a price of $2.30 per Unit (the "Offering")
for aggregate gross proceeds of up to $50,000,000. 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 $3.50 per Share for a period of 12 months after the Closing
Date.
The Offering will be conducted on a best efforts agency basis led by
Jennings Capital Inc. and including Canaccord Capital Corporation
(collectively, the "Agents"). The shares and warrants distributed under the
Offering will be qualified by way of a long form prospectus.
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 $2.30 for a period of 12 months from the date of closing of the Offering.
The Offering is scheduled to close on or about May 30, 2008 and 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
www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
"Rod Shier"
Rod Shier
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.
-30-
/For further information: Don Graham, Director, Investor Relations, (604)
682-2992 ext. 224, Email: don@CuMtn.com or B&D Capital, (604) 685-6465/
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