Proceeds of a rights offering will enable Corner Bay Minerals (BAY-T) to finance a 2-phase drill program on the San Martin oxide copper project in Chihuahua, Mexico.
Under the rights offering, Corner Bay issued an additional 1.3 million shares at 70 cents per share for proceeds of $936,873. There are now 6.7 million shares of the company outstanding.
San Martin is one of several oxidized and potentially bulk-minable copper prospects held by Corner Bay in Mexico.
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