CUPANI METALS CLOSES 1ST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FOR PROCEEDS OF $2M

Executive Summary

• Cupani Metals Corp. closed the first tranche of its non‑brokered private placement, raising gross proceeds of C$2,051,224.18.
• The offering consisted of 11,721,281 flow‑through units priced at $0.175 per unit, each unit containing one common share and half of a warrant exercisable at $0.30.
• Proceeds will be deployed to the company’s 100 % owned Blue Lake/Retty Lake exploration project and for general working capital.

Key Details

• Offering Size: C$2,051,224.18 gross proceeds.
• Units Issued: 11,721,281 flow‑through units (FT Units).
• Unit Price: $0.175 per FT Unit.
• Composition of Each FT Unit:
• One common share (“FT Share”).
• One half of a common share purchase warrant; each full warrant exercisable at $0.30, valid for up to 24 months from closing, subject to an acceleration clause.
• Tax Treatment: The FT Share and accompanying half‑warrant qualify as “flow‑through shares” under the Canadian Income Tax Act, allowing the proceeds to be treated as flow‑through critical mineral mining expenditures.
• Use of Proceeds:
• Funding exploration activities on the Blue Lake/Retty Lake project (100 % owned).
• General working capital needs.
• Resale Restrictions: Units are subject to a hold period of four months and one day from issuance, per Canadian securities law.
• Future Financing Intent: The company indicated plans to close a subsequent tranche targeting up to $4 million in additional gross proceeds.

Notable Quotes

(No direct quotes were provided in the release.)