Copper Road Announces Upsized Financing
Globenewswire·2025-12-29 23:09

Core Viewpoint - Copper Road Resources Inc. is increasing the size of its non-brokered private placement offering due to additional investor demand, with a total offering size of up to $1,084,900 [1] Group 1: Offering Details - The upsized offering will consist of the sale of up to 8,747,500 common share units at $0.035 per Unit for gross proceeds of up to $349,900, 13,333,333 flow-through units at $0.045 per FT Unit for gross proceeds of up to $600,000, and 2,700,000 FT Units at $0.05 per FT Unit for gross proceeds of up to $135,000 [1] - Each Unit consists of one common share and one common share purchase warrant, while each FT Unit consists of one common share and one Warrant, issued as a "flow-through share" [2] Group 2: Use of Proceeds - Gross proceeds from the sale of FT Units will be used for eligible "Canadian exploration expenses" related to "flow-through critical mineral mining expenditures," specifically for the exploration of the Ben Nevis Project or other Ontario properties [3] - Proceeds from the sale of Units will be allocated for property payments on the Ben Nevis Project and general working capital [4] Group 3: Regulatory and Transaction Details - The Company may pay finder's fees to eligible finders in connection with the Offering, and certain insiders may participate, which will be considered a "related party transaction" [5] - All securities issued will be subject to a hold period expiring four months and one day after issuance, and the completion of the Offering is subject to regulatory approvals, including from the TSX Venture Exchange [6][8] - The first tranche of the Offering closed on December 24, 2025, with 2,435,000 Units and 9,952,447 FT Units for aggregate gross proceeds of $545,260, and the final tranche is anticipated to close by December 31, 2025 [8]