Copper Road Announces Closing of Second Tranche of Financing

Core Viewpoint - Copper Road Resources Inc. has successfully closed the second and final tranche of its non-brokered private placement, raising a total of $539,640 through the sale of various units [1][3]. Group 1: Offering Details - The Offering consisted of the sale of 3,380,889 flow-through units at $0.045 each, 2,700,000 flow-through units at $0.05 each, and 6,312,500 hard-dollar units at $0.04 each [1]. - Each unit includes one common share and one common share purchase warrant, with warrants allowing the purchase of additional shares at $0.05 within 18 months [2]. Group 2: Use of Proceeds - Proceeds from the sale of flow-through units will be allocated to eligible Canadian exploration expenses, specifically for the exploration of the Ben Nevis Project and other Ontario properties [3]. Group 3: Related Party Transaction - A director of the Company subscribed for 1,111,111 flow-through units, which is classified as a related party transaction. The Company is exempt from formal valuation and minority shareholder approval requirements due to the participation's fair market value being under 25% of its market capitalization [4]. Group 4: Regulatory Approvals - The completion of the Offering is contingent upon receiving all necessary regulatory approvals, including from the TSX Venture Exchange. The issued securities will be subject to a statutory hold period of four months and one day [5]. Group 5: Finder's Fees - In connection with the closing of the Second Tranche, the Company will pay a cash commission of $33,000 to eligible finders and issue 100,000 finder warrants, each exercisable for a common share at $0.05 for 18 months [6].