Vancouver, BC / TheNewswire / May 2, 2016 - Consolidated Woodjam Copper Corp. ("Woodjam Copper") (TSX-V: WCC) has completed a brokered private placement for the sale of 1,000,000 units at a price of $0.20 per unit (each unit comprising three flow-through common shares, one non-flow-through common share and four warrants each for the purchase of one additional non-flow-through common share at a price of $0.08 per share for a term of three years from the date of closing of the private placement). All the securities issued in the private placement are subject to a four month hold period and may not be traded until August 28, 2016. The company will pay a commission of 300,000 common shares on behalf of the placement. The proceeds of the offering shall be applied to exploration costs for the Woodjam property with the non-flow-through share balance applied to administration costs.
Woodjam Copper has granted a total of 4,000,000 incentive stock options to directors, employees and consultants to the Company pursuant to the Company's stock option plan. The stock option plan (a "rolling" plan with a maximum of 10% of issued shares reserved for issuance) was approved by shareholders on September 2, 2015. The 4,000,000 options are exercisable for a period of ten years at a price of $0.05 per share.
Following this stock option grant there are 6,575,000 stock options outstanding with expiries from 2021 through 2026 and exercise prices ranging from $0.05 to $0.29 per share. The Company presently has 72,052,893 shares issued and outstanding.
On behalf of the board of directors of Consolidated Woodjam Copper Corp.;
Donald D. Sharp
Donald D. Sharp, C.A.
Director & CFO
Consolidated Woodjam Copper Corp.
Paul Way, Business Development Manager
Toll Free: 888-656-6611
About Consolidated Woodjam Copper Corporation
Consolidated Woodjam Copper Corp. ("Woodjam Copper") (TSX-V: WCC) trades on the TSX-V exchange and, based on its acquisition agreement with Gold Fields, owns a 100% interest in the Woodjam North and Woodjam South projects in British Columbia. Visit the Company's website at: http://www.woodjamcopper.com
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