Copper Road Announces Closing of Financing
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Copper Road Announces Closing of Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
TORONTO, ONTARIO – March 16, 2026 – Copper Road Resources Inc. ( TSX-V:
CRD) ("Copper Road Resources" or the "Company") is pleased to announce that it has
closed its previously announced non -brokered private placement (the “ Offering”). The
Offering was oversubscribed and consisted of the issuance of 5,656,522 flow-through
shares (the “FT Shares”) at a price of $0. 115 per FT Share for aggregate gross proceeds
of $650,500.
The gross proceeds from the sale of the FT Shares will be used to incur eligible “Canadian
exploration expenses” that qualify as “flow-through critical mineral mining expenditures”
as both terms are defined in Income Tax Act (Canada) (“Qualifying Expenditures”). All
Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares
effective December 31, 2026. It is anticipated that the proceeds from the sale of FT Shares
will be used for exploration of the Ben Nevis Project or on the Company’s other Ontario
properties.
A certain officer of the Company subscribed for an aggregate of 23,698 FT Shares under
the Offering which participation constitutes a “related party transaction ” within the
meaning of Multilateral Instrument 61 -101 - Protection of Minority Security Holders in
Special Transactions ("MI 61-101"). The Company is relying on an exemption from the
formal valuation and minority shareholder approval requirements of MI 61 -101 pursuant
to section 5.5(a) and section 5.7(1)(a), as the fair market value of the participation is not
more than 25% of the Company's market capitalization.
Completion of the Offering is subject to receipt of all necessary regulatory approvals,
including approval of the TSX Venture Exchange. In connection with the Offering, the
Company has agreed to pay a cash commission in the aggregate of $ 38,344 to eligible
finders and to issue 250,478 finder warrants each exercisable for a common share of the
Company at a price of $0.115 for a period of 18 months. The securities issued pursuant to
the Offering will be subject to a statutory hold period of four months and one day from the
date of issuance in accordance with applicable securities laws.
The securities have not been, and will not be, registered under the Unites States Securities
Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state security laws, and
may not be offered or sold in the Unites States without registration under the U.S. Securities
Act and all applicable state securities laws or compliance with requirements of an
applicable exemption therefrom. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy securities in the Unites States, nor shall there be any sale
of these securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful.
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For further information, please contact:
Brian Howlett, CPA
President and CEO
Copper Road Resources Inc.
www.copperroadresources.ca
1-647-227-3035
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the
policies of the TSX Venture Exchange) have reviewed or accept responsibility for the
adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information
This news release contains forward -looking information that involves substantial known and
unknown risks and uncertainties, most of which are beyond the control of Copper Road Resources.
Forward-looking statements include estimates and statements that describe Copper Road
Resource’s future plans, objectives or goals, including words to the effect that Copper Road
Resources or its management expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as "believes ", "anticipates", "expects", "estimates",
"may", "could", "would", "will", or "plan". Since forward -looking statements are based on
assumptions and address future events and conditions, by their very nature they involve inherent
risks and uncertainties. Although these statements are based on information currently available to
Copper Road Resources, the Company provides no assurance that actual results will meet
management's expectations. Risks, uncertainties and other factors involved with forward -looking
information could cause actual events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking information. Forward looking
information in this news release includes, but is not limited to, the Company’s objectives, goals or
future plans, statements regarding the Offering, regulatory approvals, intended use of proceeds of
the Offering and tax treatment of the Offering. Factors that could cause actual results to differ
materially from such forward -looking information include, but are not limited to, regulatory
approval processes, failure to identify mineral resources, delays in obtaining or failures to obtain
required governmental, regulatory, environmental or other project approvals, political risks,
inability to fulfill the duty to accommodate First Nations and other indigenous peoples,
uncertainties relating to the availability and costs of financing needed in the future, changes in
equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in
the development of projects, capital and operating costs varying si gnificantly from estimates and
the other risks involved in the mineral exploration and development industry, and those risks set
out in the Company’s public documents filed on SEDAR. Although the Company believes that the
assumptions and factors used in preparing the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such information, which only applies as of the
date of this news release, and no assurance can be given that such events will occur in the disclosed
time frames or at all. Copper Road Resources disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new information, future events or
otherwise, other than as required by law.