Three-year agreement was arranged with investor US Copper Investments
By Devika Patel
Knoxville, Tenn., July 10 - American Copper Corp. negotiated a $12.5 million investment agreement with US Copper Investments Ltd. on July 3, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
US Copper will buy common shares over three years in tranches between $50,000 and $250,000.
The purchase price is set at a 10% discount to the weighted average price of the closing bid prices of the stock for the 20 consecutive trading days preceding the put notice.
The Denver company explores for copper, gold and other metals and minerals.
| Issuer: | American Copper Corp.
|
| Issue: | Investment agreement
|
| Amount: | $12.5 million
|
| Tenor: | Three years
|
| Price: | 10% discount
|
| Warrants: | No
|
| Investor: | US Copper Investments Ltd.
|
| Announcement date: | July 10
|
| Pricing date: | July 3
|
| Stock symbol: | OTCBB: AMCU
|
| Stock price: | $0.50 at close July 9
|
| Market capitalization: | $34.65 million
|
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