Copper Road Resources closes $650,500 financing

Executive Summary

• Copper Road Resources Inc. has closed its previously announced non-brokered private placement, which was oversubscribed.
• The company issued 5,656,522 flow-through shares at 11.5 cents per share, raising aggregate gross proceeds of $650,500.
• Proceeds are designated for eligible Canadian exploration expenses (flow-through critical mineral mining expenditures) on the Ben Nevis project or other Ontario properties, with renunciations effective Dec. 31, 2026.

Key Details

• Transaction Structure: Non-brokered private placement of flow-through shares.
• Shares Issued: 5,656,522 flow-through shares.
• Price Per Share: 11.5 cents CAD.
• Gross Proceeds: $650,500 CAD.
• Use of Proceeds: Incurring eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures under the Income Tax Act (Canada).
• Renunciation Date: Dec. 31, 2026.
• Target Projects: Ben Nevis project or other Ontario properties.
• Related Party Transaction: An officer subscribed for 23,698 flow-through shares. The company relied on exemptions from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101 (Sections 5.5(a) and 5.7(1)(a)) as the fair market value of the participation is not more than 25% of the company's market capitalization.
• Finder Compensation:
  • Cash commission: $38,344 CAD to eligible finders.
  • Warrants issued: 250,478 finder warrants.
  • Warrant Exercise Price: 11.5 cents CAD per common share.
  • Warrant Term: 18 months.
• Regulatory Status: Completion subject to necessary regulatory approvals, including TSX Venture Exchange approval.
• Hold Period: Securities subject to a statutory hold period of four months and one day from the date of issuance.