Coppernico Metals Announces C$1.5 Million Private Placement and Provides Project Update
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Coppernico Metals Announces C$1.5 Million Private Placement and
Provides Project Update
Vancouver, Canada – September 28, 2023 – Coppernico Metals Inc. (“Coppernico” or the “Company”) is pleased
to announce that it is undertaking a non-brokered private placement of up to 10,000,000 units of the Company
(each, a “Unit”) at an offering price of C$0.15 per Unit (the “Unit Price”) for target gross proceeds to the Company
of C$1,500,000 (the “Offering”).
Each Unit consists of one common share of the Company (a “Share”) and one full common share purchase warrant
of the Company (each, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one common share
of the Company at a price of C$0.30 at any time on or before the date which is 24 months after the closing date
of the Offering. The Warrant is subject to an accelerated expiry on 10 trading days’ notice if the common shares
trade above $0.50 for 10 consecutive trading days any time after the first 12 months of trading of the Company’s
common shares, if and when the Company is listed on a recognized stock exchange. The securities will be offered
exempt from prospectus and registration requirements and will be targeted to accredited in vestors and
institutions. All securities are subject to a 4-month resale restricted period in Canada.
The Company plans to use the net proceeds of the Offering for general working capital and to complete the social
access agreement, as well as the drill permits required for the Company’s Sombrero project.
Sombrero Project Access Update
The Company has recently made very positive advancements at its Sombrero project where the local community
has collected the 426 signatures necessary to complete a 3-year social access agreement for the project which
allows exploration work, including drilling. The key final step required is a customary notarial legal formalization
process which is now underway and being managed by local advisors, and the responsible community is expected
to be completed in a matter of weeks.
Ivan Bebek, President & CEO of Coppernico, commented, “The collection of the community signatures is a
significant step for our company and the Sombrero project. Not only is it a key step in the advancement towards
completing access, but it also demonstrates the majority support within the community , which we are thankful
for, and we look forward to continuing to work with them.
We are now in the final stages of completing our social access agreement at our flagship Sombrero project which,
once completed, will enable us to pursue listing on a recognized exchange and advance our exploration efforts.
We are very thankful for the support and p atience of our shareholders as we look forward to completing these
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final steps as we believe Sombrero is unique and ranks as one of the premier copper-gold exploration
opportunities internationally.”
ON BEHALF OF THE BOARD OF DIRECTORS
Ivan Bebek
President, CEO & Director
For further information on Coppernico, please visit www.coppernicometals.com or contact Katie Bromley ,
Manager of Corporate Communications, at +1 (778) 729-0600 or [email protected].
About Coppernico
Coppernico is a mineral exploration company focused on creating value for shareholders and stakeholders through careful
project evaluation and exploration excellence in pursuit of the discovery of world-class copper-gold deposits in South America.
The Company’s management and technical teams have a successful track record in raising capital, discovery and monetization
of exploration successes. The Company is currently focused on the Sombrero project in Peru , its flagship project, and is
reviewing additional premium projects in South America.
Coppernico is currently an unlisted reporting issuer and intends to be listed on a recognized stock exchange once it qualifies.
For more information, please visit www.coppernicometals.com.
Cautionary Note
No regulatory organization has approved the contents hereof.
This news release contains forward -looking statements and fo rward-looking information within the meaning of Canadian
securities legislation (collectively, “forward -looking statements”) that relate to the Company’s current expectations and
views of future events, including securing the necessary investor interest for the offering, finalizing agreements with local
communities, and the goal of securing a stock exchange listing about which there cannot be any certainty. No assurance can
be given that these expectations will prove to be correct and such forward-looking statements included in this news release
should not be unduly relied upon. These statements speak only as of the date of this news release. Forward -looking
statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are
beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed
in or implied by such forward -looking statements. Readers should re fer to the risks discussed in the Company’s continuous
disclosure filings with the Canadian Securities Administrators, available at www.sedar.com.