Doré Copper Announces Closing of Rights Offering
PRESS RELEASE
DORÉ COPPER ANNOUNCES CLOSING OF RIGHTS OFFERING
Not for distribution to United States news wire services or for dissemination in the United States
Toronto, Ontario – January 2, 2024 – Doré Copper Mining Corp. (the " Corporation" or "Doré Copper")
(TSXV:DCMC; OTCQ X:DRCMF; FRA: DCM) is pleased to announce that, on December 29, 2023, it
closed its previously announced rights offering (the " Rights Offering") to the holders of common shares
in the capital of the Corporation (" Common Shares ") at the close of business (Toronto time) on
November 28, 2023. The Rights Offering expired at 5:00 p.m. (Toronto time) on December 22, 2023 (the
"Expiry Date"). The Corporation issued 33,000,000 Common Shares at a subscription price of $0.12 per
Common Share for aggregate gross proceeds of $3,960,000. The net proceeds of the Rights Offering will
be used for exploration and development activities and for working capital and general corporate
purposes.
The Corporation issued a total of 11,463,135 Common Shares under the basic subscription privilege and
3,440,126 Common Shares under the additional subscription privilege. Ocean Partners UK Limited
("Ocean Partners "), together with its affiliate, Ocean Partners USA Inc., acquired a total of 6,472,931
Common Shares under their basic subscription privilege and nil Common Shares under their additional
subscription privilege. Funds managed by Equinox Partners Investment Management, LLC ("Equinox"
and together with Ocean Partners, the " Standby Purchasers ") acquired a total of 3,202,719 Common
Shares under their basic subscription privilege and 3,331,018 Common Shares under their additional
subscription privilege in lieu of Common Shares available to a certain fund managed by Equinox under its
basic subscription privilege. The Standby Purchasers collectively subscribed for an additional 18,096,739
Common Shares p ursuant to the ir standby commitment agreements , with each Standby Purchaser
acquiring 50% of such Common Shares.
To the knowledge of the Corporation, after reasonable inquiry, no person that was not an insider of Doré
Copper before the distribution under the Rights Offering became an insider as a result of the distribution
under the Rights Offering. To the knowledge of the Corporation, after reasonable inquiry, directors,
officers and other insiders of the Corporation before the distribution under the Rights Offering , which
includes the Standby Purchasers, as a group, acquired 10,110,832 Common Shares under the basic
subscription privilege and 3,331,018 Common Shares under the additional subscription privilege for an
aggregate of 13,441,850 Common Shares acquired under the Rights Offering, representing total
subscription proceeds of $1,613,022.
Other persons, as a group, acquired 1,352,303 Common Shares under the basic subscription privilege
and 109,108 Common Shares under the additional subscription privilege for an aggregate of 1,461,411
Common Shares acquired under the Rights Offering, representing total subscription proceeds of
$175,369.32.
As of the closing date of the Rights Offering, there are 130,874,099 Common Shares issued and
outstanding.
No fees or commissions were paid in connection with the solicitation of the exercise of rights under the
Rights Offering.
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The participation in the Rights Offering by certain "related parties" of the Corporation, namely, directors,
senior officers and persons that have beneficial ownership of, or control or direction over, directly or
indirectly, more than 10% of the issued and outstanding Common Shares , constitutes a "related party
transaction" under Multilateral Instrument 61 -101 – Protection of Minority Security Holders in Special
Transactions ("MI 61-101"). The Rights Offering is not subject to the related party transaction rules under
MI 61-101 based on a prescribed exception related to rights offerings.
Neither the rights offered under the Rights Offering or the Common Shares have been , nor will they be,
registered under the United States Securities Act of 1933, as amended, and may not be exercised,
offered or sold, as applicable, in the United States absent registration or an applicable exemption from the
registration requirements. This news release shall not constitute an offer to sell or the solicitation of an
offer to buy the securities of the Corporation. There shall be no offer or sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or
qualification of such securities under the laws of any such jurisdiction.
About Doré Copper Mining Corp.
Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target
of +50 million pounds of copper equivalent ann ually by implementing a hub -and-spoke operation model
with multiple high -grade copper -gold assets feeding its centralized Copper Rand mill 1. The Corporation
has delivered its PEA in May 2022 and is proceeding with a feasibility study.
The Corporation has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe
Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of
gold2. The land package includes 13 former producing mines, deposits and resource target areas within a
60-kilometer radius of the Corporation's Copper Rand Mill.
For further information, please contact:
Ernest Mast Laurie Gaborit
President and Chief Executive Officer Vice President, Investor Relations
Phone: (416) 792-2229 Phone: (416) 219-2049
Email: [email protected] Email: [email protected]
Visit: www.dorecopper.com
Facebook: Doré Copper Mining Twitter: @DoreCopper
LinkedIn: Doré Copper Mining Corp. Instagram: @DoreCopperMining
1. Technical report titled "Preliminary Economic Assessment for the Chibougamau Hub -and-Spoke Complex, Québec, Canada"
dated June 15, 2022, in accordance with National Instrument 43 -101 – Standards of Disclosure for Mineral Projects ("NI 43-
101"). The Technical Report was prepared by BBA Inc. with several consulting firms contributing to sections of the study,
including SLR Consulting (Canada) Ltd., SRK Consulting (Canada) Inc. and WSP Inc.
2. Sources for historic production figures: Economic Geology, v. 107, pp. 963 –989 - Structural and Stratigraphic Controls on
Magmatic, Volcanogenic, and Shear Zone -Hosted Mineralization in the Chapais -Chibougamau Mining Camp, Northeastern
Abitibi, Canada by François Leclerc et al. (Lac Dore/Chibougamau mining camp) and NI 43 -101 Technical Report on the Joe
Mann Property dated January 11, 2016 by Geologica Groupe-Conseil Inc. for Jessie Ressources Inc. (Joe Mann mine).
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward -looking statements" under applicable C anadian securities
legislation. Forward-looking statements include predictions, projections and forecasts and are often , but
not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate",
"forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that
an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar
expressions and includes the negatives thereof. All statements other than statements of historical fact
included in this news release, including, without limitation, statements with respect to the anticipated
benefits of the Rights Offering , the intended use of proceeds from the Rights Offering , the Corporation's
ability to meet its production target , the commencement, timing and completion of a feasibility study, and
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the plans, operations and prospects of the Corporation and its properties are forward -looking statements.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown risks, uncertainties and other factors
which may cause actual results and future events to differ materially from those expressed or implied by
such forward -looking statements. Such factors include, but are not limited to, the inability of the
Corporation to achieve the anticipated benefits of the Rights Offering, the operating expenses of the
Corporation for the 12 month period following the Expiry Date, actual exploration results, changes in
project parameters as plans continue to be refined, future metal prices, availability of capital and financing
on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory
changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and
other exploration or other risks detailed herein and from time to time in the filings made by the
Corporation with securities regulators. Although the Corporation has attempted to identify important
factors that could cause actual actions, events or results to differ from those described in forward -looking
statements, there may be other factors that cause such actions, events or results to differ materially from
those anticipated. Ther e can be no assurance that such statements will prove to be accurate, as actual
results and future events could differ ma terially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward -looking statements. The Corporation disclaims any
intention or obligation to update or revise any forward -looking stateme nts, whether as a result of new
information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.