US Copper Corp Completes $200,000 Non-Brokered Private Placement
US Copper Corp Completes $200,000 Non-Brokered Private Placement
TORONTO, CANADA, August 29, 2024 – US Copper Corp (“ US Copper” or the “Company”)
(TSX Venture: USCU) (OTCQB: USCUF) (Frankfurt: C730) is pleased to announce that it has
completed a non-brokered private placement (the “Private Placement” ) for aggregate gross
proceeds of $200,000. The Private Placement involved the issuance of 6,666,667 units (“Units”)
at a price of $0.03 per Unit. Each Unit consists of one common share in the capital stock of the
Company (a “Common Share”) and one warrant. Each whole warrant will entitle the holder to
purchase one Common Share for $0.06 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. 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 $18,800 worth of Units or
626,667 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 belie ves this shorter period is
reasonable and necessary in the circumstances as the Company wi shed to complete the Private
Placement in a timely manner.
The Company intends to use the proceeds of the Private Placemen t for general working capital
purposes.
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 available at www.sedarplus.ca. Investors are cautioned not to
place undue reliance upon forward-looking statements.