US Copper Corp Completes $2 Million Private Placement
US COPPER CORP COMPLETES $2 MILLION PRIVATE PLACEMENT
TORONTO, CANADA, May 19, 2021 – US Copper Corp (“ US Copper” or the “ Company”)
(TSX Venture: USCU) (Frankfurt: C73) is pleased to announce tha t it has completed a non-
brokered private placement (the “Private Placement” ) for aggregate gross proceeds of
$2,000,000. The Private Placement involved the issuance of 10,000,000 units (“Units”) at a price
of $0.20 per Unit. Each Unit consists of one common share in the capital stock of the Company (a
“Common Share”) and one half of one warrant. Each whole warrant will entitle the holder to
purchase one Common Share for $0.25 at any time within 2 years after closing. All securities
issued pursuant to this Private Placement will be subject to a four-month hold period. As part of
the Private Placement, the Company paid Finders' fees of $13,800. The Private Placement remains
subject to final acceptance by the TSX Venture Exchange.
Insiders of the Company acquired directly and indirectly a tota l of $160,000 worth of Units or
800,000 Units in the Private Placement on the same basis as oth er participants. The direct and
indirect participation in the Private Placement by an insider of the Company constitutes a “related
party transaction” as such term is defined under Multilateral I nstrument 61-101 – Protection of
Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the
exemptions from the formal valuation (section 5.5(b)) and minority approval requirements (section
5.7(1)(b)) under MI 61-101.
A material change report in connection with the Private Placeme nt will be filed less than 21 days
before the closing of the Private Placement. The Company believes this shorter period is reasonable
and necessary in the circumstances as the Company wished to com plete the Private Placement in
a timely manner.
The Company is currently prepari ng for its 2021 drill program t o test its high priority targets as
outlined in its August 11, 2020 press release and intends to us e the proceeds of the Private
Placement towards completing this drill program and for general working capital purposes.
About US Copper Corp
US Copper controls approximately 13 square miles of patented an d unpatented federal mining
claims in the Light’s Creek Copper District in Plumas County, NE California; essentially, the entire
District. The District contains substantial copper (silver) su lfide and copper oxide resources in
three deposits – Moonlight, Superior and Engels, as well as sev eral partially tested and untested
exploration targets.
The Superior and Engels Mines operated from about 1915-1930 pro ducing over 161 million
pounds of copper from over 4 million tons of rock containing 2. 2% copper with silver and gold
credits.
The Moonlight Deposit was discovered and drilled by Placer Amex during the 1960’s. Details of
the resources on US Copper’s property and the parameters used to calculate them can be found in
the "Technical Report and Preliminary Economic Assessment for t he Moonlight Deposit,
Moonlight-Superior Copper Project, California, USA" dated April 12, 2018, on both the
company’s website at www.uscoppercorp.com or on www.sedar.com under the US Copper Corp
profile.
Mr. George Cole is the Qualified Person pursuant to NI 43-101 r esponsible for the technical
information contained in this news release, and he has reviewed and approved this news release.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, US Copper Corp ( 416) 361-2827 or email
Neither the 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 press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities
laws and regulations, including statements regarding th e future activities of the Company. Forward-looking
statements reflect the current beliefs and expectations of management and are identified by the use of words including
“will”, “hopes”, “anticipates”, “expected to”, “plans”, “p lanned”, “intends” and other similar words. Actual
results may differ significantly. The achievement of the resu lts expressed in forward-looking statements is subject to
a number of risks, including those described in the Company’s management discussion and analysis as filed with the
Canadian securities regulatory authorities which are availabl e at www.sedar.com. Investors are cautioned not to
place undue reliance upon forward-looking statements.