Allied Copper Corp (OTCMKTS:CPRRF) Stock Corrects After Recent Jump

One of the companies which was in the news cycle yesterday following a major new announcement was Allied Copper Corp (OTCMKTS:CPRRF) and this morning it is going to be interesting to see if the stock comes into focus or not.

Trading Data

On Monday, CPRRF stock decreased 5.88% to $0.1600 with more than 16.50K shares, compared to volume of 18.80K shares. The stock moved within a range of $0.1580 – 0.1600 after opening trade at $0.1580.

Allied Copper Announces $2.0 million Non-Brokered Financing

The company was in the news yesterday after it announced that it was going to conclude a private placement of a non-brokered nature of as many as 10,000,000 units. The Allied Copper units are going to be sold for $0.20 a unit and the company seeks to raise gross proceeds to the tune of $2 million from the offering.

Each unit that is going to be offered by the company is going to be made up of one common share in Allied Copper’s capital and half of a warrant to purchase a common share.

Those who hold a whole warrant are going to have the right to pick up a common share in the company at the exercises price of $0.30. It should be noted that the warrant can be exercised up until 24 months from the date of closing. This morning investors could do well to keep an eye on the Allied Copper stock.