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Chakana Copper : Completes C$8 Million Private Placement with Gold Fields - Market Screener

Monday, 13 May 2019

Chakana Copper (TSXV:PERU,OTCQB:CHKKF) has completed a C$8 million private placement with Gold Fields Nazca Holdings, a subsidiary of Gold Fields (NYSE:GFI), after which the company acquired a 16.14 percent interest in Chakana.

As stated in the press release:

The private placement involved the issue of 15,686,275 common shares of the company at a price of $0.51 per Chakana share for total gross proceeds of C$8,000,000.

The net proceeds of the financing will be used to advance the exploration and development of the company’s expanded Soledad copper-gold project in central Peru. All securities issued in the financing will be subject to a statutory four month hold period.

Full media release

Chakana Completes cdn$8 Million Strategic Investment from Gold Fields Limited

Vancouver, B.C., May 13, 2019 – Chakana Copper Corp. (“Chakana” or the “Company”) (TSX-V: PERU; OTCQB: CHKKF; FWB: 1ZX) is pleased to announce that it has completed the previously announced private placement with Gold Fields Nazca Holdings Inc., a group company of Gold Fields Limited, (“Gold Fields”) (NYSE: GFI), pursuant to which a wholly-owned subsidiary of Gold Fields has acquired a 16.14% interest in the Company. The private placement involved the issue of 15,686,275 common shares of the Company (the “Chakana Shares”) at a price of $0.51 per Chakana Share for total gross proceeds of CDN$8,000,000 (the “Financing”). 

The net proceeds of the Financing will be used to advance the exploration and development of the Company’s expanded Soledad copper-gold project in Central Peru. All securities issued in the Financing will be subject to a statutory four month hold period.

For additional details on the Financing please refer to the Company’s news release of April 29, 2019.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.


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