Coppernico Metals Closes First Tranche of Non-brokered Private Placement
[email protected] COPPERNICOMETALS.COM | 1
Coppernico Metals Closes First Tranche of
Non-brokered Private Placement
Vancouver, Canada – October 19, 2023 – Coppernico Metals Inc. (“Coppernico” or the “Company”) is pleased to
announce that the Company has closed the first tranche of its non -brokered private placement announced on
September 28, 2023 (the "Placement"). The Company also announces it has amended the terms of the Placement;
the financing security will be a C$0.15 unit consisting of a common share and a five-year share purchase warrant,
exercisable at C$0.30 until the fifth anniversary of listing the common shares on a recognized stock exchange. The
warrant is no longer subject to an accelerated expiry. In all other respects, the previously announced terms and
conditions of the offering pertain to the amended offering.
The Company issued 5,244,284 units at a price of C$0.15 per common share for gross proceeds of C$786,642.60.
Net proceeds from the Placement will be used for general working capital and to complete the social access
agreement as well as the drill permits required for the Company’s Sombrero project. Participation in the
Placement by insiders of the Company (“Insider Participation”) totals 536,017 units for gross proceeds of
C$80,402.55.
The Insider Participation constitutes "related party transactions" within the meaning of Multilateral Instrument
61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied
on the exemptions from the formal v aluation and minority shareholder approval requirements of MI 61 -101
contained in Sections 5.5(b) and 5.7 (b), respectively, of MI 61-101 in respect of the Insider Subscriptions.
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.
[email protected] COPPERNICOMETALS.COM | 2
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 forward -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 e vents, including securing the necessary investor interest for the offering, 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 for ward-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 refer to the risks discussed in the Company’s continuous disclosure filings with the Canadian Securities
Administrators, available at www.sedar.com.