June 7, 2018: Vancouver, British Columbia: Surge Copper Corp. (the “Company”) (SURG: TSX-V) is pleased to announce it has received a new 5-year exploration permit of the Ootsa deposit in British Columbia, and has closed a private placement.
5-Year Exploration Permit Received
The new exploration permit allows the Company to drill an additional 150 holes, build necessary drill access roads, and conduct additional trenching and geophysical surveying. The permit also allows the Company to maintain its existing 30-man exploration camp and core facility. Surge Copper plans to drill a minimum of 3,000 metres at Ootsa this summer, testing priority targets around the East and West Seel deposits, with a few holes targeting deposit expansion. The Company also plans to conduct surface exploration programs at multiple copper, gold, and silver exploration targets on the Ootsa Property.
Non-Brokered Private Placement Completed
The Company is pleased to announce it has closed the non-brokered private placement announced on May 29, 2018, consisting of 400,000 units (“Units”) at a price of $0.12 per Unit raising gross proceeds of $48,000. Each Unit is comprised of one common share of the Company and one-half of one non-transferable common share purchase warrant (“Warrant”). Each whole warrant entitles the holder thereof to purchase one common share of the Company, for 24 months, at an exercise price of $0.15 per share after the closing date of the private placement.
The proceeds of the private placement will be used for the purpose of carrying out the exploration programs on the Company’s
All securities issued in conjunction with this private placement are subject to a hold period expiring four months plus a day after the date of their issuance.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
For Further information, please contact:
Toll Free: 888-500-4587
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Safe Harbor Statement: The Company relies upon litigation protection for “forward-looking statements.” The Company undertakes no obligation to update these forward- looking statements in the managements beliefs, estimates obligations or other factors should change.