King Copper Discovery Announces Closing of $15 Million Financing

Core Viewpoint - King Copper Discovery Corp. has successfully completed a non-brokered private placement financing, raising a total of $15 million through the issuance of 25 million units at a price of $0.60 per unit [1] Financing Details - Each unit consists of one common share and one common share purchase warrant, which is exercisable at a price of $0.98 for two years [1] - The financing is subject to a statutory four-month hold period as per applicable securities law [2] Insider Participation - The financing included participation from insiders, specifically a director and a corporate subscriber controlled by a director, who collectively subscribed for 150,000 units, contributing $90,000 to the company [3] - The issuance of units to insiders is classified as "related party transactions" under Multilateral Instrument 61-101, with the company relying on exemptions from formal valuation and minority approval requirements [3] Use of Proceeds - The net proceeds from the financing will be allocated for general working capital and for the ongoing assessment and evaluation of multiple copper exploration and development opportunities in South America [4]