CopperCorp Upsizes Previously Announced Private Placement
CopperCorp Upsizes Previously Announced
Private Placement
Vancouver, British Columbia--(Newsfile Corp. - December 18, 2023) - CopperCorp Resources Inc.
(TSXV: CPER) (FSE: NU0) ("CopperCorp" or the "Company") is pleased to announce that, as a result
of demand, it has increased the size of its previously announced non-brokered private placement of
units. CopperCorp will now raise aggregate gross proceeds of up to $1,385,000 per the terms
described in the Company's December 6, 2023 press release (the "
Private Placement
").
CopperCorp intends to use the net proceeds of the Private Placement for exploration drilling and
development of the Company's Razorback property, located in western Tasmania, Australia, and for
general working capital and administrative purposes.
The Private Placement is subject to certain closing conditions including, but not limited to, the receipt of
all necessary approvals including the approval of the TSX Venture Exchange.
CopperCorp may pay finders' fees under the offering in accordance with applicable securities laws and
the policies of the TSX Venture Exchange. The securities issued under the Offering will be subject to a
hold period under applicable securities laws in Canada expiring four months and one day from the
closing date of the Private Placement.
Members of the Company's management team may participate in the Private Placement including
subscriptions from related parties of the Company as defined in Multilateral Instrument 61-101
Protection of Minority Security Holders in Special Transactions ("MI 61-101").
The participation of
management in the Private Placement is exempt from formal valuation and minority shareholder
approval requirements pursuant to exemptions contained in sections 5.5(c) and 5.7(1)(a) of MI 61-101.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such registration is available.
About CopperCorp
CopperCorp is a well-financed mineral exploration company with approximately C$4.4M in working
capital as of November 30, 2023 and is exploring in locations that could host world class size copper-
gold-REE deposits in western Tasmania, Australia.
Contact:
Stephen Swatton
President, CEO & Director
Corporate Development Contact:
604-970-8032
Additional information about CopperCorp can be found on its website:
www.coppercorpinc.com
and at
www.sedarplus.ca
.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news
release includes certain "forward-looking statements" under applicable Canadian securities
legislation relating plans for future exploration and drilling and the timing of same, the merits of the
Company's mineral projects and other plans of the Company, including statements relating to the use
of proceeds and completion of the Private Placement. Forward-Looking statements are statements
that are not historical facts; they are generally, but not always, identified by the words "encouraging",
"expects", "plans", "anticipates", "believes", "interpret", "intends", "estimates", "projects", "aims",
"suggests", "often", "target", "future", "likely", "pending", "potential", "goal", "objective", "prospective",
"possibly", "preliminary" and similar expressions, or that events or conditions "will", "would", "may",
"can", "could" or "should" occur, or other statements, which, by their nature, refer to future events. The
Company cautions that forward-looking statements are based on the beliefs, estimates and opinions
of the Company's management on the date the statements are made, and that such statements are
subject to risks and uncertainties that may cause actual results, performance or developments to
differ materially from those contained in the statements. Consequently, there can be no assurances
that such statements will prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements.
Factors that could cause future results to differ materially from those anticipated in forward-looking
statements include risks associated with exploration and drilling; the timing and content of upcoming
work programs; geological interpretations based on drilling that may change with more detailed
information; possible accidents; the possibility that the Company may not be able to secure permitting
and other governmental approvals necessary to carry out the Company's plans; the risk that the
Company will not be able to raise sufficient funds to carry out its business plans; the possibility that
future exploration results will not be consistent with the Company's expectations; increases in costs;
environmental compliance and changes in environmental and other local legislation and regulation;
interest rate other risks associated with mineral exploration operations, the risk that the Company will
encounter unanticipated geological factors and exchange rate fluctuations; changes in economic and
political conditions; and other risks involved in the mineral exploration industry. The reader is urged to
refer to the Company's Management's Discussion and Analysis, publicly available through the
Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval
(SEDAR+) at
www.sedarplus.ca
for a more complete discussion of risk factors and their potential
effects.
Forward-Looking statements are based on a number of assumptions, including management's
assumptions about the following: the availability of financing for the Company's exploration activities;
operating and exploration costs; the Company's ability to attract and retain skilled staff; timing of the
receipt of necessary regulatory and governmental approvals; market competition; and general
business and economic conditions. The Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information, future events or
otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/191401