The copper and gold explorer plans to offer up to 50 million shares at a price of $0.05 per share, pending approval from the TSX Venture Exchange.
Carube noted that some insiders, such as directors, will be subscribing for a portion of the offering. Additionally, the offering will include the issuance of finders warrants equal to 6% of the total shares offered.
All the securities issued as part of the offering will be subject to a four-month-and-one-day hold process.
Shares of Carube jumped 25% to $0.05 on Tuesday.
Carube Copper possesses 11 licenses covering 536 square kilometers in Jamaica, and the company is taking advantage of its first-mover status by exploring the country's historic copper and gold workings.
The company also has three porphyry related projects in British Columbia and 100% ownership of the highly prospective Steward Brook Gold project in Nova Scotia.
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