Calgary, Alberta–(Newsfile Corp. – November 28, 2022) – Aurwest Resources Corporation (CSE: AWR) (“Aurwest” or the “Company“) is pleased to announce that pursuant to the recent closing of its Plan of Arrangement and spin out of its Copper Stars property in British Columbia to Copper Star Exploration Ltd. (“Copper Star“), Copper Star plans to complete a private placement financing of subscription receipts. As disclosed in previous press releases Copper Star will be applying to become a publicly listed company through a direct listing (“Direct Listing“) on the Canadian Securities Exchange (the “CSE“) and one of the conditions of listing is the completion of the private placement financing disclosed below.
Copper Star Subscription Receipt Offering
Copper Star plans to complete a non-brokered private placement of subscription receipts (the “Subscription Receipts“) to raise aggregate proceeds of up to $1,025,000 through the issuance of up to 5,000,000 flow-through Subscription Receipt units (‘FT Units“) at a price of $0.10 per FT Unit for gross proceeds of up to $500,000 and up to 7,000,000 conventional Subscription Receipt units (“Conventional Units“) at a price of $0.075 per Conventional Unit for gross proceeds of up to $525,000 (the “Offering“).
Each FT Unit will consist of one flow-through share at a price of $0.10 and one half of one share purchase warrant (each whole warrant, a “FT Warrant“). Each Warrant will entitle the subscriber to purchase one additional common share…
