Canyon Copper Announced The Closing Of A Private Placement
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/21/08 -- Canyon
Copper Corp. (the "Company") (OTCBB: CYOO Stock News) is pleased to announce today
that that it has now completed the sale pursuant to Regulation S, of
5,000,000 Units previously announced on August 11, 2008. The financing
has been provided by two corporate investors and one individual who are
not US persons, in exchange for 5,000,000 Units at a price of $0.10 US
per unit. Each Unit consists of one share of common stock and one share
purchase warrant with each warrant entitling the purchaser to acquire
an additional share of common stock at a price of $0.12 US per share
for a period of two years from closing. The proceeds of the private
placement will be used for general corporate purposes.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been registered under the United States
Securities Act of 1933, as amended and may not be offered or sold
within the United States or to U.S. persons unless an exemption from
such registration is available.
About Canyon Copper
Canyon Copper Corp.'s New York Canyon Property is located in the New
York Canyon area of the Santa Fe Mining District, Mineral County,
Nevada. The project hosts oxide and sulphide copper bearing
mineralization outlined by historical operators. The most advanced of
these zones is the Longshot Ridge copper oxide deposit. This zone has
not been completely outlined and remains partially open. The Copper
Queen mineralized zone is located approximately three Kilometres west
of Longshot Ridge and hosts copper and molybdenum sulphide
mineralization. Several additional mineralized areas identified
throughout the New York Canyon property have yet to be explored.
On behalf of the Board of Directors,
CANYON COPPER CORP.
Anthony Harvey, CEO and Chairman
This Press Release may contain, in addition to historical
information, forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements are identified by their use of terms and phases such as
"believe", "expect", "plan", "anticipate" and similar expressions
identifying forward-looking statements. Investors should not rely on
forward-looking statements because they are subject to a variety of
risks, uncertainties and other factors that could cause actual results
to differ materially from the Company's expectations, and expressly
does not undertake any duty to update forward-looking statements. These
factors include, but are not limited to the following, the Company's
ability to obtain additional financing, geological, mechanical or
difficulties affecting the Company's planned geological work programs,
uncertainty of estimates of mineralized material and other factors
which may cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking
statements.
Contacts:
Canyon Copper Corp.
Robert Meister, Corporate Communications
Continental North America Toll Free: 1-888-331-9326 or
(604) 331-9326
(604) 684-9365 (FAX)
Website: www.canyoncc.com
