Copper Road Announces Closing of Second Tranche of Financing
Executive Summary
- Copper Road Resources Inc. closed the second and final tranche of its non‑brokered private placement, raising $539,640 in gross proceeds.
- The offering consisted of three securities types: 3,380,889 flow‑through units at $0.045, 2,700,000 flow‑through units at $0.05, and 6,312,500 hard‑dollar units at $0.04 per unit.
- Proceeds are earmarked for eligible Canadian exploration expenses on the Ben Nevis Project and other Ontario properties; related‑party participation was exempted from formal valuation under MI 61‑101.
Key Details
- Securities Issued
- Flow‑through Units (FT Units): 3,380,889 units @ $0.045 each = $152,140.01
- Additional FT Units: 2,700,000 units @ $0.05 each = $135,000
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Hard‑dollar Units: 6,312,500 units @ $0.04 each = $252,500
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Total Gross Proceeds: $539,640
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Unit Structure – Each Unit includes one common share and one common share purchase warrant (exercise price $0.05, exercisable for 18 months). FT Units are issued as “flow‑through shares” qualifying for Canadian tax‑benefit treatment.
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Use of Proceeds
- All FT Unit proceeds will be used to incur eligible “Canadian exploration expenses” that qualify as flow‑through critical mineral mining expenditures.
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Expected application: exploration of the Ben Nevis Project and other Ontario properties.
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Related‑Party Transaction
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One director subscribed for 1,111,111 FT Units (≈25% of market cap threshold), relying on exemption under MI 61‑101 sections 5.5(a) and 5.7(1)(a).
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Regulatory & Holding Period
- Closing subject to TSX Venture Exchange approval and other regulatory consents.
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Securities subject to a statutory hold period of four months and one day.
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Finder Compensation
- Cash commission paid: $33,000 to eligible finders.
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Additional issuance of 100,000 finder warrants (exercise price $0.05, 18‑month term).
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Pricing Correction – The prior press release (Dec 29, 2025) incorrectly stated the hard‑dollar unit price as $0.035; correct price is $0.04 per Unit.
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U.S. Securities Law Disclaimer – Units are not and will not be registered under U.S. securities laws; no offer or sale may be made in the United States absent exemption or registration.
Notable Quotes
- “The successful completion of this financing provides us with the capital needed to advance exploration at Ben Nevis and our other Ontario projects, while delivering valuable tax benefits to our investors,” – Brian Howlett, President & CEO.