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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 22, 2016) - Lowell Copper Ltd. (TSX VENTURE:JDL) ("Lowell Copper" or the "Company") announces it will undertake a non-brokered private placement financing (the "Financing") to issue 23,333,333 units of Lowell Copper (each a "Unit") at a price of C$0.12 per Unit for gross proceeds of $2,800,000. Each Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant (each whole warrant a "Warrant"). Each whole Warrant will entitle the holder thereof to acquire one additional common share of the Company for a period of five (5) years at an exercise price of C$0.20. The Company intends to use the proceeds raised in the Financing to further its projects in Ecuador and Chile as well as for general working capital purposes. |
