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NEWS
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INDUSTRY NEWS
October 29, 2004
Cooper Minerals to raise $350,000 privately
PRIVATE PLACEMENTS
Cooper Minerals Inc., pursuant to news as reported in Stockwatch on July 29,
2004, has entered into a private placement for the sale of 1,166,700 units at a
price of 30 cents per unit for a total of $350,010. Each unit will consist of
one common share and one transferable share purchase warrant for the purchase of
one further common share of the company, having an exercise price of 40 cents
for the first year and 50 cents at any time after the first year until the
expiry of such share purchase warrants. The share purchase warrants shall have a
term of the lesser of (i) two years from the date of issuance of the share
purchase warrant or (ii) the period ending on the fifth business day following
five consecutive days that the market price of the shares as traded on the NEX
board or TSX Venture Exchange has closed equal to or greater than 50 cents per
share. The funds shall be used for unallocated working capital and property
acquisition. The maximum allowable finder's fee shall be payable.
The company announces further that a total of $222,557 indebtedness will be
settled by way of the issuance of 741,857 shares at a deemed price of 30 cents
per share and 50,000 share purchase warrants each for the purchase of one
further share within two years at a price of 40 cents for the first year and 50
cents for the second year.
WARNING: The company relies upon litigation protection for "forward-looking"
statements.
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DEUTSCH