Vancouver, BC— August 8th, 2017
Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV:KCC) is pleased to announce that it has closed the previously announced non-brokered private placement for gross proceeds of $4,524,687 through the issuance of 13,711,174 Units at a price of C$0.33 per Unit. Each Unit is comprised of one common share (the “Shares”) and one-half of a share purchase warrant with each whole warrant (the “Warrants”) entitling the holder to acquire a further Share at C$0.445 for a period of two years. The private placement is subject to final TSX-V approval.
Proceeds from the offering will accelerate Kincora’s exploration and expansion strategy. In 2016, Kincora surpassed Rio Tinto, and related entities, to become the dominant landholder along the Devonian copper-gold belt (100% ownership of 1437 km2). Kincora will shortly initiate an extensive two-phase drill program at the East Tsagaan Suvarga and Bayan Tal targets for up to
16,000 metres (up to 8,000 metres at both targets), while advancing its district scale multitarget, multi-stage pipeline up the value curve.
All Units issued are subject to a four-month hold period expiring four months and one day from the date of issuance.
Sam Spring, President & CEO, commented: “We are encouraged by the support received from new and existing investors despite a challenging market for junior explorers, with many new groups having undertaken detailed due diligence providing validation of our exciting dual exploration and expansion strategy.
This is testament to the quality of Kincora’s targets and the strategic value of our dominant position in this highly mineralized but vastly underexplored Devonian belt, which we are shortly looking to drill test for the first time by any explorer since 2012. This new equity will significantly strengthen Kincora's ability to test a number of Tier 1 copper porphyry targets while enabling the Company to further enhance its holdings on the belt.
The copper price remains favourable, with prices increasing 50% since we secured the IBEX transaction, and with multiple value add work streams now funded we plan to shortly
increase awareness for what is effectively a new copper junior to the wider public markets.”
800–1199 West Hastings Street, Vancouver, BC V6E 3T5 Phone +1 604 283 1722 Fax +1 888 241 5996

Published Date:2017-08-10