VANCOUVER, BC, June 27, 2022 /CNW/ - Getty Copper Inc. (TSXV: GTC) ("Getty") announces that, subject to regulatory approval, the Company's board of directors have approved a private placement of up to 3,500,000 units at $ .20 per unit with each unit consisting of 3 flow through common shares, 1 non flow through common share, 3 warrants to purchase flow through shares, and 1 warrant to purchase a non flow through common share (total 4 shares and 4 warrants price equivalent to $.05 for each share with warrant). Each warrant will be exercisable to purchase an additional common share at $.10 per share for a period of three years from closing, subject to the Company's option to accelerate the expiry date of the warrants in the event, at any time after the four months following their issuance, the closing price of the Company's common shares exceeds $.30 per common share for 20 consecutive trading days.
The Company will pay a finder's fee to registered investment dealers or exempt market dealers of up to 8% of the proceeds and will issue finders warrants equal to 8% of the number of shares comprising the units sold to parties introduced by the finder. The finder's warrants will be exercisable for a period of 12 months to purchase a non flow through common share at $.10 per share.
The proceeds of the placement will be used to complete work programs on the Company's Getty properties in the Highland Valley and for general corporate purposes.
ON BEHALF OF THE BOARD OF DIRECTORS
Philip A. Potter, CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
1000 Austin Ave., Coquitlam, B.C., Canada V3K 3P1
Tel:(604) 931-3231 Fax: (604) 931-2814
www.gettycopper.com TSX Venture Exchange: GTC E-mail: getty@telus.net
SOURCE Getty Copper Inc.
View original content: http://www.newswire.ca/en/releases/archive/June2022/27/c2808.html
Philip A. Potter, GETTY COPPER INC., Phone: 604-931-3231 Fax: 604-931-2814