Cascadero Copper Corp has closed the 4,000,000 unit non-brokered private placement at US$0.10 per unit to a single placee for total gross proceeds of US$400,000. Each unit consists of one common share and one warrant. Each warrant entitles the holder to purchase an additional common share at US$0.15 per share to November 3rd 2012. The units are subject to a four-month hold period that expires on March 3rd 2011.
No finder fee is payable and Cascadero has 102.9 million shares issued.
Cascadero intends to use the proceeds for general working capital purposes and continued exploration of its 50% owned Argentine property portfolio.
The Argentine exploration focus is on sediment hosted gold and silver prospects and copper-gold-silver-moly porphyry showings.
Cascadero Copper Corp
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