Alpha Copper Announces Non-Brokered Private Placement of Convertible Debentures and Consolidation of Common Shares
VANCOUVER, British Columbia, Oct. 18, 2023 (GLOBE NEWSWIRE) — Alpha Copper Corp. (CSE: ALCU) (OTC: ALCUF) (FWB: PP0) (“Alpha Copper” or the “Company”), a resource sector enterprise founded to create value through mineral exploration, technical development, and asset acquisition, is pleased to announce a non-brokered private placement of unsecured non-transferable convertible debentures (the “Debentures”) for gross proceeds of up to $1,000,000 (the “Offering”). The Debentures will bear interest at a rate of 10% per annum, payable annually in arrears, and will mature 24 months from the date of issuance (the “Maturity Date”). The outstanding principal amount, and any accrued unpaid interest thereon, is convertible any time up until the Maturity Date at the election of the holder into units of the Company (each, a “Unit”) at a price per Unit equal to the closing price of the common shares of the Company (“Common Shares”) on the last trading day prior to the date the Company receives a duly completed conversion notice. The Company may elect to satisfy interest payments as they come due by issuing Units to the holders of the Debentures at a price per Unit equal to the closing price of the Common Shares on the last trading day prior to the relevant interest payment date.