Consolidated Woodjam Copper Corporation: Completes Private Placement, Grants Stock Options
02.05.2016 | The Newswire
Vancouver, May 2, 2016 - Consolidated Woodjam Copper Corp. ("Woodjam Copper") (TSX-V: WCC) has completed a brokered private placement for the sale of 1,000,000 units at a price of $0.20 per unit (each unit comprising three flow-through common shares, one non-flow-through common share and four warrants each for the purchase of one additional non-flow-through common share at a price of $0.08 per share for a term of three years from the date of closing of the private placement). All the securities issued in the private placement are subject to a four month hold period and may not be traded until August 28, 2016. The company will pay a commission of 300,000 common shares on behalf of the placement. The proceeds of the offering shall be applied to exploration costs for the Woodjam property with the non-flow-through share balance applied to administration costs.Woodjam Copper has granted a total of 4,000,000 incentive stock options to directors, employees and consultants to the Company pursuant to the Company's stock option plan. The stock option plan (a "rolling" plan with a maximum of 10% of issued shares reserved for issuance) was approved by shareholders on September 2, 2015. The 4,000,000 options are exercisable for a period of ten years at a price of $0.05 per share.
Following this stock option grant there are 6,575,000 stock options outstanding with expiries from 2021 through 2026 and exercise prices ranging from $0.05 to $0.29 per share. The Company presently has 72,052,893 shares issued and outstanding.
On behalf of the board of directors of Consolidated Woodjam Copper Corp.
Donald D. Sharp
Donald D. Sharp, C.A., Director & CFO
Contact:
Consolidated Woodjam Copper Corp.
Paul Way, Business Development Manager
(604) 681-7913
Toll Free: 888-656-6611
pway@eastfieldgroup.com
About Consolidated Woodjam Copper Corporation
Consolidated Woodjam Copper Corp. ("Woodjam Copper") (TSX-V: WCC) trades on the TSX-V exchange and, based on its acquisition agreement with Gold Fields, owns a 100% interest in the Woodjam North and Woodjam South projects in British Columbia. Visit the Company's website at: www.woodjamcopper.com
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