Private Placement Raises C$1.1M For Cañariaco Work
Candente Copper Corp. (TSX:DNT, BVL:DNT) has gained the financial support of Australian mining powerhouse Fortescue Metals and fund manager Lind Partners to raise gross proceeds of approximately C$1,100,000 through the two subscribers.
The Financing is to be subscribed for equally by Nascent Exploration Pty Ltd., a wholly owned subsidiary of Fortescue Metals Group Ltd. and Lind Global Fund II, LP, an institutional investment fund managed by The Lind Partners, LLC
CEO, Joanne Freeze, said the proceeds of the Private Placement are to be used to advance the Cañariaco Project in Peru as well as for general corporate and working capital purposes.
“We are very pleased to have both Fortescue and Lind supporting Candente Copper and the Cañariaco project to unlock value for shareholders,” Ms Freeze said.
“Upon completion of the Private Placement, we will be well financed to complete an updated Preliminary Economic Assessment (PEA) which will better define opportunities with potential to lower initial capital expenditures, operational costs and enhance our environmental, social and governance practices as recently identified by Ausenco in their Desk Top Study.
“The Financing will also allow us to advance our permitting for drilling and our community work.”
About The Lind Partners
The Lind Partners is an institutional fund manager and leading provider of growth capital to small and mid-cap companies publicly traded in the US, Canada, Australia and the UK. Lind makes direct investments ranging from US$1 to US$30 million, invests in syndicated equity offerings and selectively buys on market. Lind has completed more than 100 direct investments totaling over US$1 Billion in value and has been a flexible and supportive capital partner to investee companies since 2011.
About Fortescue Metals Group
Fortescue is a global leader in the iron ore industry, recognised for its culture, innovation and industry-leading development of world class infrastructure and mining assets in the Pilbara, Western Australia.
Since Fortescue was established in 2003, it has discovered and developed major iron ore deposits, constructed some of the most globally significant mines and has grown to be one of the world’s largest producers of iron ore. Fortescue has an active global exploration programme.
About Candente Copper
Candente Copper is a mineral exploration company engaged in acquisition, exploration, and development of mineral properties. The Company is currently focused on its 100% owned Cañariaco project, which includes the Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.
For further information please visit: https://candentecopper.com/