Kodiak Copper closes $8.05-million private placement

Executive Summary

• Kodiak Copper Corp. closed an oversubscribed bought‑deal private placement raising $8,050,120 in gross proceeds.
• The financing consisted of 6.05 M charity flow‑through units at $1 each and 3.226 M hard‑dollar units at $0.62 each, with warrants exercisable at $0.95 for 24 months.
• Net proceeds will fund working capital, general corporate purposes, advancement of the Arizona project, and eligible Canadian exploration expenses on the MPD project in British Columbia.

Key Details

• Underwriters: Lead underwriter & sole bookrunner – Canaccord Genuity Corp.; syndicate included Cormark Securities Inc. and Paradigm Capital Inc.
• Units Issued:
• Charity Flow‑Through (FT) Units: 6,050,000 units @ $1 / unit → $6.05 M gross proceeds. Each unit = 1 common share + ½ transferable common share purchase warrant (flow‑through eligible).
• Hard‑Dollar (HD) Units: 3,226,000 units @ $0.62 / unit → $2,000,120 gross proceeds. Each unit = 1 non‑flow‑through common share + ½ warrant.
• Warrant Terms: All warrants (including compensation warrants to underwriters) allow purchase of one non‑flow‑through common share at $0.95 per share for 24 months post‑closing.
• Underwriter Compensation: Cash fee equal to 6 % of gross proceeds (reduced to 3 % for certain president’s list orders); additional non‑transferable warrants equal to 6 % of units sold (reduced to 3 % for certain orders).
• Hold Period: All securities subject to a four‑month hold period ending Jan. 26, 2026.
• Insider Participation: Insiders subscribed for 79,000 HD units, generating $48,980 gross proceeds; treated as a related‑party transaction under TSX‑V Policy 5.9 and MI 61‑101 exemptions.
• Use of Proceeds:
• HD unit net proceeds: Working capital, general corporate purposes, advancement of Arizona project.
• Charity FT unit gross proceeds: Eligible Canadian exploration expenses on the MPD project in BC (flow‑through critical mineral mining expenditures) to be incurred by Dec. 31 2026 and renounced to subscribers by Dec. 31 2025; indemnification provision if CRA does not allow renunciation.
• Largest Shareholder Participation: Konwave AG participated, maintaining its proportionate equity ownership.

Notable Quotes

“We are very pleased with the strong demand from new investors for this financing… With a solid balance sheet, we can now confidently accelerate work at our MPD project in Southern British Columbia.” – Claudia Tornquist, President & CEO, Kodiak Copper Corp.