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Carube Copper announces plans to raise funds for Jamaican exploration

The company has a portfolio of exploration-stage projects in Jamaica, British Columbia and Nova Scotia

Carube's assets include 11 properties in Jamaica

Carube Copper Corp (CVE:CUC) announced plans for a new financing to raise funds for copper and gold exploration at the company’s Jamaican assets, the company said on Monday afternoon.

The exploration company currently holds a 100% interest in 11 licenses of prospective copper-gold terrain in Jamaica and a 100% interest in three porphyry copper-gold properties within the Cascade Magmatic Arc in southwestern British Columbia.

Carube also holds a small property in Nova Scotia, where an extensive gold in till anomaly was uncovered recently.

READ: Carube Copper sells six Jamaican exploration licences in cash and royalty deal

The Toronto-based junior said it intends to raise C$225,000 in a non-brokered private placement of up to 4.5 million units at C$0.05 per unit.

The units include one share and one warrant exercisable at C$0.08 for three years from the closing date.

Carube noted that insiders, including directors, will be subscribing to a portion of the offering, which is anticipated to close by July 25.

Shares of Carube closed Monday at C$0.04 in Toronto.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Carube Copper

Price: 0.06 CAD

Market: TSX-V
Market Cap: $10.56 m

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