U.S. Copper closes $1.16-million private placement

Mr. Stephen Dunn reports US COPPER CORP COMPLETES NON-BROKERED PRIVATE PLACEMENT U.S. Copper Corp. has completed a non-brokered private placement for aggregate gross proceeds of $1,165,000. The private placement involved the issuance of 11.65 million units at a price of 10 cents per unit. Each unit consists of one common share in the capital stock of the company and one warrant. Each whole warrant will entitle the holder to purchase one common share for 15 cents at any time within two years after closing. All securities issued pursuant to this private placement will be subject to a four-month hold period. As part of the private placement, the company paid finders' fees of $5,700. The private placement remains subject to final acceptance by the TSX Venture Exchange. A material change report in connection with the private placement will be filed less than 21 days before the closing of the private placement. The company believes this shorter period is reasonable and necessary in the circumstances as the company wished to complete the private placement in a timely manner. The company intends to use the proceeds of the private placement for general working capital purposes and to advance its Moonlight-Superior copper project. Such activities are expected to include baseline studies required for permit applications, metallurgical studies required for more advanced engineering studies and geophysical surveys to assist in targeting deeper targets. We seek Safe Harbor.