/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
Web Site: www.CuMtn.com
VANCOUVER, Dec. 3, 2013 /CNW/ - Copper Mountain Mining Corporation (TSX: CUM)
(the "Company" or "Copper Mountain") announces that it has closed its Cdn $30
million bought deal financing (the "Offering") announced on November 11,
2013. The syndicate of underwriters was led by National Bank Financial Inc.
and includes Canaccord Genuity Corp., Scotia Capital Inc., CIBC World Markets
Inc. and Raymond James Ltd. (collectively the "Underwriters"). The Offering
consisted of the issue of 17,700,000 common shares at a price of Cdn $1.70 per
share, resulting in Cdn $30,090,000 in gross proceeds to the Company.
Copper Mountain plans to use the net proceeds of this financing for the
construction of a secondary crusher to increase production at the Copper
Mountain Mine site and for general corporate purposes.
The Underwriters also have the option to increase the size of the Offering by
up to an additional 2,655,000 Shares (the "Underwriters' Option") at any time
until January 2, 2014, for an additional gross proceeds of Cdn $4,513,500 if
the Underwriters' Option is exercised in full.
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.
Mr. O'Rourke, Chief Executive Officer of the Company stated: "I am extremely
pleased with the market support to strengthen our financial position to ensure
our ability to maximize future production. With this financing complete, the
Company is well positioned to build the new secondary crusher in an
expeditious fashion and enable the mine to reach its designed capacity on a
consistent basis by late next summer."
The Company also reports that the mine was able to repair the failed
transformer as planned and had the second ball mill back in operation on
Saturday, November 30, 2013.
About Copper Mountain Mining Corporation:
Copper Mountain's flagship asset is the 75% owned Copper Mountain mine located
in southern British Columbia near the town of Princeton. The Company has a
strategic alliance with Mitsubishi Materials Corporation who owns the
remaining 25%. The Copper Mountain mine commenced production in the latter
half of 2011, and has continued to improve its operations during the year. The
18,000 acre site has a resource of approximately 5 billion pounds of copper
and remains open laterally and at depth. The mine has significant exploration
potential that will need to be explored over the next few years to fully
appreciate the properties full development potential. Additional information
is available on the Company's new web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
"Jim O'Rourke" Jim O'Rourke, P. Eng
Chief Executive 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 www.sedar.com, 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.
SOURCE Copper Mountain Mining Corporation
Galina Meleger, Corporate Communications 604-682-2992 ext. 224
Email:Galina.meleger@CuMtn.com or Rod Shier, Chief Financial Officer
604-682-2992 ext. 222 Email:Rod@CuMtn.com
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CO: Copper Mountain Mining Corporation
ST: British Columbia
NI: MNG LOAN MNA
-0- Dec/03/2013 14:00 GMT
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