Dore Copper Mining Corp (OTCMKTS:DRCMF) Stock On Watchlist After Private Placement

On Tuesday, Dore Copper Mining Corp (OTCMKTS:DRCMF) was in focus after it made an announcement with regards to a non-brokered private placement. The private placement would be made up of 8,050,000 common shares in Doré Copper Mining for $0.20 each for gross proceeds to the tune of $1,610,000.

Trading Data

On Tuesday, DRCMF stock slid 4.49% to $0.1594 with more than 3.14K shares, compared to its average volume of 13.80K shares. The stock moved within a range of $0.1594 – 0.1601 after opening trade at $0.1601.

Doré Copper Announces Up to $3 Million Non-brokered Private Placement of Common Shares and Flow-through Shares

It would also include 833,336 common shares which would qualify as flow through shares for the price of $0.24 each for gross proceeds to the tune of $200,000.64. Lastly, the offering would also include 2,875,000 common shares, which would qualify as flow through shares, for the price of $0.415 each for the generation of gross proceeds of $1,193,125.

The proceeds generated from the offering would be used by the company for financing exploration and development activities. It would also be used for general corporate purposes and working capital needs. Some of the arm’s length entities in connection with the offering may receive a cash finder’s fee payment as well.

 Additionally they may also get warrant which would entitle them to pick up shares in Doré Copper Mining. However, it should be noted that the finder’s fee could only be paid out following approval from the TSX Venture Exchange.