Copperbank Resources Corp. (CSE:CBK)

VANCOUVER, BRITISH COLUMBIA, CANADA, May 11, 2017 /EINPresswire.com/ -- Vancouver, B.C., Canada – May 11, 2017 – CopperBank Resources Corp. (“CopperBank”) (CSE: CBK) is pleased to announce that the Company plans to issue up to 17,500,000 common shares at a price of $0.08 per share by way of private placement. An additional 5,000,000 common shares will be issued to Gianni Kovacevic, Executive Chairman of the Company in order to extinguish a $400,000 loan to the Company by Mr. Kovacevic (see NR# 02 dated February 24, 2017).

The private placement is subject to the approval of the Canadian Securities Exchange and the securities will be subject to a four month and one day hold period under securities laws.

The Company intends to use the net proceeds from the private placement for 2017 work programs on its Alaska portfolio of projects and for general working capital and corporate purposes.

On behalf of CopperBank Resources Corp.

“Gianni Kovacevic”
Executive Chairman
Address: Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Tel: 604-889-0852
E-mail: gk@copperbankcorp.com
Website: www.copperbankcorp.com

Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although CopperBank believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. For more information on each of CopperBank and the risks and challenges of its businesses, investors should review the information circular dated September 12, 2014 and its other continuous disclosure filings that are available under CopperBank’s profile at www.sedar.com.

Sheryl Dhillon
Copperbank Resources Corp.
604-484-7855
email us here

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