King Copper Discovery Announces Closing of $15 Million Financing

Executive Summary

• King Copper Discovery Corp. closed a non‑brokered private placement of 25 million units at $0.60 per unit, generating gross proceeds of $15 million.
• The financing includes one common share and one warrant per unit (exercise price $0.98, two‑year term).
• Net proceeds will be used for general working capital and to assess multiple copper exploration opportunities in South America.

Key Details

• Units sold: 25,000,000 units at $0.60 each → $15,000,000 gross proceeds.
• Unit composition: 1 common share + 1 common share purchase warrant (exercise price $0.98, expires in 2 years).
• Hold period: All securities subject to a statutory four‑month hold period under applicable securities law.
• Insider participation: A director and a corporate subscriber controlled by a director subscribed for 150,000 units ($90,000), constituting related‑party transactions exempted under MI 61‑101.
• Use of proceeds: General working capital; ongoing assessment and evaluation of multiple copper exploration and development projects in South America (Argentina and Peru).

Notable Quotes

• “The net proceeds from the Financing will be used for general working capital and for the ongoing assessment and evaluation of multiple copper exploration and development opportunities within South America.” – Jonathan Richards, Chief Executive Officer.