NEWS
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INDUSTRY NEWS
February 1, 2006
Private Placement closedCooper Minerals Inc. (the "Company") wishes to
advise that it has closed a private placement for the sale of 1,500,000 units at
$0.35 per unit for a total of $525,000 where each unit consists of one common
share and one non-transferable share purchase warrant for the purchase of 1
further common share of the Company. The exercise price for the warrants is
$0.50 per share. The share purchase warrants shall have a term of the earlier
of:
- one year from the date of closing;
- the period ending on the fifth business day following five consecutive
days that the market price of the shares has closed equal to or greater
than $0.60 per share; and
- the consecutive day term shall not apply during the hold period.
These shares are subject to a four month hold period expiring May 31,
2006.
COOPER MINERALS INC.
Tai Chen
President and Director
The TSX Venture Exchange has in no way passed upon the merits of the proposed
transaction and has neither approved nor disapproved the contents of this press
release.
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