Star Copper announces private placement for gross proceeds of up to $2M (ALCUF)

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Star Copper (OTCPK:ALCUF) announced it intends to conduct a non-brokered private placement of up to 8M units of the company at $0.25/unit for gross proceeds of up to $2M.
Each unit will comprise one common share and 1 common share purchase warrant, with each warrant exercisable to acquire 1 common share at $0.32/share for 24 months from the date of issuance.
Star Copper intends to use the net proceeds for project evaluation, general working capital purposes and to satisfy existing property commitments and payables.
Source: Press release