Sep 14, 2021

WeirFoulds represents PNG Copper Inc. in closing of $1.12 million private placement

On September 3, 2021, PNG Copper Inc. (“PNG Copper”) (CSE:PNGC) announced that it closed the third and final tranche of its private placement offering first announced in June 2021.  In total, the Company issued 7,498,332 units for gross proceeds of $1,124,750. Each Unit consisted of one Class A common share in the capital of the Company and one Share purchase warrant.

PNG Copper was represented by WeirFoulds, with a team consisting of Rob Eberschlag (corporate/securities), Katie Liu (securities law clerk) and Cassie Chaloux (articling student).

PNG Copper is a mineral exploration company focused on acquiring, exploring, and developing quality mineral properties in Papua New Guinea. The proceeds of the financing will be used for exploration on the Keveri Project, for its 3,000m drill program, working capital, corporate overhead and general and administrative purposes.

WeirFoulds is pleased to have assisted PNG Copper in the closing of this financing.

To learn more about our Securities Practice Group or to contact one of our securities lawyers, visit our securities practice group overview page.