Copaur Minerals arranges $3-million private placement

Executive Summary

• Copaur Minerals Inc. has negotiated a private placement for gross proceeds of up to $3,000,000, subject to TSX Venture Exchange acceptance.
• The company also announced the grant of 650,000 stock options to directors, officers, employees, and consultants.
• Proceeds from the financing will be used to advance the Kinsley Mountain gold property development, secure permits for the Troy Canyon property, and fund general working capital.

Key Details

• Financing Structure:
  • Gross proceeds: Up to $3,000,000.
  • Units issued: Up to 30,000,000 units.
  • Price per unit: $0.10 CAD.
  • Unit composition: One common share and one-half share purchase warrant per unit.
  • Warrant terms: Each whole warrant entitles the holder to purchase one additional common share.
  • Warrant exercise price: $0.20 CAD per share.
  • Warrant term: Two years from the date of issuance.
  • Acceleration clause: If the share price exceeds $0.30 for 10 consecutive trading dates (commencing 4 months from issuance), the company may accelerate warrant expiry with 30 days' written notice.
  • Hold period: Four-month hold period for all issued securities.
  • Insiders: May participate in the private placement.
  • Finders' fees: May be paid in accordance with TSX-V rules.
• Use of Proceeds:
  • Advancing the development program on the Kinsley Mountain gold property in Nevada.
  • Securing necessary permits to commence preliminary exploration work on the Troy Canyon property in Nevada.
  • General working capital purposes.
• Stock Option Grant:
  • Quantity: 650,000 stock options.
  • Recipients: Directors, officers, employees, and consultants.
  • Exercise price: $0.15 CAD per common share.
  • Validity period: Five years from the date of grant.
  • Authority: Granted in accordance with the company's stock option plan.
• Kinsley Mountain Property Details:
  • Location: Nevada (90 km south of the Long Canyon mine).
  • Current Mineral Resources:
    • Indicated: 418,000 ounces at 2.63 g/t gold.
    • Inferred: 117,000 ounces at 1.51 g/t gold.
    • Total Indicated and Inferred: 535,000 ounces.
    • High-grade Western Flank zone: 302,000 ounces averaging 6.11 g/t gold.
  • History: Last in production in 1998; operations suspended by Alta Gold.

Notable Quotes

• None provided in the text.