03:47 PM EST - Copper Fox Metals Inc. : reported a second-quarter net loss of $431,800 or breakeven per share, compared to a loss of $720,000 or $0.01 per share in the same quarter last year. Earlier the company had announced that it intends to complete a non-brokered private placement offering to raise up to $6 million in funds. The offering consists of 106.66 million units at a purchase price of $0.056 per unit, for aggregate gross proceeds of $6 million. The company noted that each unit consists of one common share of the company and one common share purchase warrant of the company. Each warrant entitles the holder thereof to acquire one common share of the company at an exercise price of $0.075 and expire one year from the closing date. As of June 25, the company received $1.6 million net of selling costs of $59,430 related to this issue and will result in the issuance of 29.5 million shares and warrants. Copper Fox Metals Inc.
shares V.CUU are trading up $0.005 at $0.10.
