Copper Mountain Mining Corporation

April 06, 2010 07:35 ET

Copper Mountain Announces Increase in Bought Deal Financing for Proceeds of Cdn$30 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 6, 2010) -


Copper Mountain Mining Corporation (TSX:CUM) ("Copper Mountain" or the "Company") is pleased to announce that it has increased the size of its bought deal financing announced on April 5, 2010 to an aggregate of 9,850,000 common shares (the "Shares") of the Company at a price of Cdn$3.05 per Share for gross proceeds of approximately Cdn$30.0 million (the "Offering"). The syndicate of underwriters is co-led by Wellington West Capital Markets Inc. and BMO Capital Markets, and includes Raymond James Ltd., Canaccord Financial Ltd. and Jennings Capital Inc. (collectively the "Underwriters").

The Underwriters also have the option to increase the size of the Offering by up to an additional 1,477,500 Shares (the "Underwriters' Option"), for aggregate gross proceeds under the Offering of approximately $34.5 million if the Underwriters' Option is exercised in full.

Copper Mountain plans to use the net proceeds of this financing to advance the exploration and development of the Copper Mountain Project in British Columbia and for general corporate purposes.

The Shares will be offered by way of a short form prospectus to be filed in certain provinces of Canada, other than Quebec, pursuant to National Instrument 44-101 Short Form Prospectus Distributions.

The offering is scheduled to close on or about April 26, 2010 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.

About Copper Mountain Mining Corporation

Copper Mountain is a Canadian resource company managed by an experienced team of professionals with a solid track record of exploration and development success. The Company's shares trade on the Toronto Stock Exchange under the symbol "CUM". Copper Mountain owns 75% and Mitsubishi Materials Corporation owns 25% of the Copper Mountain Project. Construction is in progress for a production start in June 2011 at a rate of plus 100 million pounds per year of copper with gold and silver credits. The 18,000 acre mine site is located 15 km south of the town of Princeton in southern British Columbia. Additional information is available on the Company's profile at

On behalf of the Board of


"Rod Shier"

Rod Shier, Chief Financial Officer

Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statement.

Contact Information

  • Copper Mountain Mining Corporation
    Don Graham
    Director, Investor Relations
    604 682 2992 ext. 224
    B&D Capital