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VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 29, 2014) - Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX VENTURE:CUU) is pleased to announce that it has, through a wholly owned subsidiary, closed a previously announced non-brokered private placement (the "Private Placement") in Carmax Mining Corp. ("Carmax") (TSX VENTURE:CXM) pursuant to which Copper Fox has indirectly acquired 20,000,000 units of Carmax for an aggregate subscription price of $1 million. Units (each a "Unit") were subscribed for at a price of $0.05 per Unit and consisted of one previously unissued common share ("Share") and one common share purchase warrant ("Warrant") of Carmax. Each Warrant is exercisable for a period of 24 months from the closing date of the Private Placement and entitles the holder, on exercise, to purchase one additional common share of Carmax at a price of $0.075 per share. |
