|By Marketwired .||
|March 4, 2014 08:00 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/04/14 -- Kincora Copper Limited (the "Company", "Kincora") (TSX VENTURE: KCC) announces a non-brokered private placement of up to $5 million through the issuance of up to 100,000,000 units (the "Units") at a price of $0.05 per Unit. Each "Unit" will be comprised of one common share and one share purchase warrant (a "Warrant"). Each Warrant is exercisable to purchase a common share at a price of $0.105 per share for a period of two years from the date of the close of the financing. All Warrants are subject to an accelerated expiry date, which comes into effect when the trading price of the Company's shares closes at or above $0.15 per share for 30 consecutive trading days in the period commencing four months after the date of issuance. In such an event the Company will give expiry acceleration notice ("Notice") to the warrant holders and the expiry date of the Warrants will be 30 days from the date of Notice.
The private placement is subject to TSX Venture Exchange approval and all securities are subject to a four-month hold period. Finder's fees may be payable in connection with the private placement, in accordance with the policies of the TSX Venture Exchange.
Proceeds from this financing will be used for further exploration of the Company's mineral properties in Mongolia and general working capital.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.