The 6,000,000 Unit offering is increased to 12,500,000 Units and re-priced to $0.12 per Unit for total gross proceeds of up to $1,500,000.
Each unit consists of one Cascadero Copper common share and one share purchase warrant. Each one share purchase warrant entitles the holder to purchase one Cascadero Copper common share at $0.25 per share for a period of three-years from closing. The Unit is subject to a 121-day hold period from closing. The warrant is transferrable and is subject to an Accelerated Warrant Exercise Price clause. The trigger price on the Accelerated Warrant Price remains at $0.35. The Company will apply for a Supplemental Listing and, subject to TSX Venture Exchange approval, the warrant will trade on the Venture Exchange.
A finder fee is payable.
Prior to closing, 108.7 million shares are issued. Completion of the financing is subject to regulatory approval, including acceptance of the financing by the TSX Venture Exchange.
Use of proceeds is to continue exploration in Argentina and for working capital.
Cascadero Copper Corp is further amending the terms of the 6,000,000 Unit non-brokered private placement announced, as amended, September 26th 2011.