Faraday Copper Upsizes Previously Announced Non-Brokered Equity Offering from $15 Million to $20 Million; and Announces Ticker Symbol Change to FDY
NEWS RELEASE April 25, 2022
2022– NR #6
Faraday Copper Upsizes Previously Announced Non-Brokered Equity
Offering from $15 Million to $20 Million; and
Announces Ticker Symbol Change to FDY
April 25, 2022 – Vancouver, British Columbia – Faraday Copper Corp. (“Faraday” or the “ Company”)
(CSE:FDY) is pleased to announce that it has increased the size of its private placement (the " Private
Placement") of common shares of the Company announced on April 20, 2022. The Private Placement has
increased from $15 million to $20 million, at an offering price of $0.80 per common share , due to strong
demand.
Upon closing of the Private Placement, expected on or about May 5, 2022, the Company will issue up to
25,000,000 common shares of the Company at a price of $ 0.80 for total proceeds of approximately $ 20
million. The Private Placement was not subject to finders' fees or commissions.
Paul Harbidge, President and CEO, commented “I am pleased to see such strong demand across institutions
and individual investors for our at-market financing, and I am delighted with the continued support of our key
strategic investors, including the Lundin family, Murray Edwards, and Pierre Lassonde. Their collective
experience in the energy and resources sector is of immense value to the Company as we advance our two
assets, Copper Creek and Contact Copper.”
Private Placement
The Company has increased its previously announced Private Placement offering of common shares at an
offering price of $0.80 per common share, for aggregate proceeds of up to $20 million.
Closing of the Private Placement is subject to receipt of all applicable approvals and other customary
conditions to closing. Securities issued pursuant to the Pr ivate Placement will be subject to a Canadian
securities law resale restriction period expiring on the date that is four months and one day after the closing
date of the Private Placement. Insiders of the Company are expected to participate in the Private
Placement.
The Company intends to use the net proceeds from the Private Placement to advance the Company’s
Copper Creek and Contact Copper projects as well as for general working capital purposes.
Name Change, Ticker Change, and Shareholder Information
The name change of the company to Faraday Copper Corp has been completed, and the Company is now
trading on the Canadian Securities Exchange (“CSE”) under the ticker symbol “FDY”. In addition, the
Company is pleased to announce the launch of a new website, www.faradaycopper.com.
Shareholders of the Company are not required to take any actions in connection with the name change as
physical and Direct Registration System ( “DRS”) share certificates in the predecessor company name of
CopperBank Resources Corp (“CopperBank”) continue to be enforceable. Should a registered shareholder
wish to exchange their share certificates of CopperBank into Faraday, they can action as follows:
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▪ For physical certificates, forward the share certificate(s) along with a cover letter requesting the
change of the certificate into the new company name to Computershare at 100 University Avenue,
8th Floor, Toronto, Ontario, M5J 2Y1;
▪ Registered shareholders, who hold shares in a DRS form, can contact the Investor Centre number
1-800-564-6253 (CAD and US) or 514 -982-7555 (International Direct Dial) to request a new DRS
in the company name of Faraday to be mailed to them; and
▪ Shareholders may also contact the Invest or Centre (using the numbers above) to gain online
access to their account allowing 24/7 self-serve access.
About Faraday Copper
Faraday Copper is a Canadian exploration company focused on advancing two copper projects in The
United States of America. The Company trades on the CSE under the symbol “FDY”.
For additional information please contact:
Stacey Pavlova Vice President, Investor Relations & Communications
E-mail [email protected]
Website www.faradaycopper.com
Cautionary Note on Forward Looking Statements
Some of the statements in this news release, other than statements of historical fact, are “forward-looking statements” and are based
on the opinions and estimates of management as of the date such statements are made and are necessarily based on estimates and
assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual res ults,
level of activity, performance or achievements of CopperBank to be materially different from those expressed or implied by such
forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited
to, statements concerning the proposed use of proceeds , the participation of certain individuals in the private p lacement and the
anticipated amount to be raised under the Private Placement offering.
Although CopperBank believes the expectations expressed in such forward-looking statements are based on reasonable assumptions,
such statements should not be in any w ay construed as guarantees of future performance and actual results or developments may
differ materially. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Factors that could cause actual results to differ materially from those in forward-looking statements include without limitation: market
prices for metals; the conclusions of detailed feasibility and technical analyses; lower than expected grades and quant ities of
resources; receipt of regulatory approval; receipt of shareholder approval; mining rates and recovery rates; significant capi tal
requirements; price volatility in the spot and forward markets for commodities; fluctuations in rates of exchange; tax ation; controls,
regulations and political or economic developments in the countries in which CopperBank does or may carry on business; the
speculative nature of mineral exploration and development, competition; loss of key employees; rising costs of labour, supplies, fuel
and equipment; actual results of current exploration or reclamation activities; accidents; labour disputes; defective title t o mineral
claims or property or contests over claims to mineral properties; unexpected delays and costs inherent to consulting and
accommodating rights of Indigenous peoples and other groups; risks, uncertainties and unanticipated delays associated with obtaining
and maintaining necessary licenses, permits and authorizations and complying with permitting requirements , including those
associated with the Copper Creek property; and uncertainties with respect to any future acquisitions by CopperBank. In addition, there
are risks and hazards associated with the business of mineral exploration, development and mining, including environmental events
and hazards, industrial accidents, unusual or unexpected formations, pressures, cave -ins, flooding and the risk of inadequate
insurance or inability to obtain insurance to cover these risks as well as “Risk Factors” included in CopperBank’s disclosure documents
filed on and available at www.sedar.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction to any person
to whom it is unlawful to make such an offer or solicitation in such jurisdiction. This press release is not, and under no circumstances
is to be construed as, a prospectus, an offering memorandum, an advertisement or a public offering of securities in CopperBank in
Canada, the United States or any other jurisdiction. No securities commission or similar authority in Canada or in the United States
has reviewed or in any way passed upon this press release, and any representation to the contrary is an offence.
All of the forward-looking statements contained in this press release are qualified by these cautionary statements. CopperBank does
not intend, and does not assume any obligation, to update these forward -looking statements, except as required under a pplicable
securities legislation. For more information on the CopperBank, readers should refer to www.sedar.com for the CopperBank’s filings
with the Canadian securities regulatory authorities.