Candente Copper Corp. (TSX:DNT) has received a second financing offer for a similar amount to the Lind Financing of up to $10 million announced on March 23, 2022.
The company is subject to confidentiality obligations with respect to the specific terms of the financing offer and the identity of the party that made the offer, but we can disclose that the offer came from another well-financed, reputable entity.
With the best interest of the company and its stakeholders in mind, the board of directors of the company has formed a special committee to review both and potentially other financing offers, and the company will advise once decisions have been made.
Further to the News Release on the Lind Financing, the company has clarified that its major shareholder, Fortescue Metals Group, has the right to maintain their position of 19.9% in the company in any equity financing and therefor will be given the opportunity to participate on the same terms offered by any other group.
Further to that, all conversations with Fortescue to date indicate that they wish to maintain their 19.9% interest or increase it.
Funds raised will be dedicated initially to Feasibility, Detailed Environmental Impact studies and community initiatives for the Cañariaco Norte Project and once permits are received, then to exploration drilling on Cañariaco Sur and Quebrada Verde.
For further information please: https://candentecopper.com/