Copper Fox Metals Inc. (TSXV:CUU) and its 100 percent owned subsidiary Desert Fox Copper Inc. announced that the shareholders of Carmax Mining Corp. (TSX:CSM) have approved the proposed private placement of 20,000,000 units to Desert Fox. The placement is anticipated to close on May 28, 2014, and details were previously announced in an April 10 news release. Further announcements will be made following the closing of the placement.

As quoted in the press release:

Each unit subscribed for by Desert Fox will consist of one Common Share and one Share Purchase warrant with a common share purchase warrant of the Corporation entitling the subscriber to purchase for a period of two years following the date of Closing one Common Share at a price of $0.075 per share, subject to terms and conditions set forth in the warrant certificate.

Copper Fox CEO, Elmer B. Stewart, said:

We are excited to receive this news from Carmax and are looking forward to working with them on their Eaglehead Project once the private placement has closed. We are also pleased to announce that the Copper Fox AGM, held yesterday in Calgary, resulted in the Board of Directors being re-elected, we are proud to have them re-elected and look forward to another busy year for Copper Fox.

Click here to read the Copper Fox Metals (TSXV:CUU) press release
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