Cupani closes $716,250 second tranche of placement

Executive Summary

• Cupani Metals Corp. has closed the second tranche of its previously announced non-brokered private placement, raising aggregate gross proceeds of $716,250.03.
• The financing consists of the issuance of 617,143 flow-through units and 4,866,000 hard-cash units, with proceeds allocated to the Blue Lake/Retty Lake exploration project and general working capital.
• The company also disclosed updated finder fee details and compensation related to the first tranche of the offering, which previously raised $2,033,724.18.

Key Details

• Second Tranche Proceeds: $716,250.03 in aggregate gross proceeds.
• Flow-Through Units (FT):
  • Quantity: 617,143 units.
  • Price: 17.5 cents per unit.
  • Composition: One common share and one-half of one common share purchase warrant per unit.
  • Warrant Terms: Each whole FT unit warrant is exercisable at $0.30 per share, exercisable for 24 months from issuance, subject to an acceleration clause.
  • Use of Proceeds: Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures.
• Hard-Cash Units (HC):
  • Quantity: 4,866,000 units.
  • Price: 12.5 cents per unit.
  • Composition: One common share and one full common share purchase warrant per unit.
  • Warrant Terms: Each HC unit warrant is exercisable at $0.25 per share, exercisable for 24 months from issuance, subject to an acceleration clause.
• Use of Proceeds: Funds to be used for the 100%-owned Blue Lake/Retty Lake exploration project and general working capital purposes.
• Resale Restrictions: Securities are subject to a hold period of four months and one day from the date of issuance.
• Finder Fees and Compensation (Second Tranche):
  • Cash Finders' Fees: $4,812.50 paid to certain finders.
  • Compensation Units: 200,000 HC units issued at 12.5 cents per unit.
  • Finders' Warrants: 12,500 warrants issued with terms identical to HC unit warrants (exercisable at $0.25 for 24 months).
• First Tranche Clarification and Update:
  • Gross Proceeds: $2,033,724.18 from the issuance of 11,621,281 FT units.
  • Finder Compensation: 528,000 HC units issued to certain finders at 12.5 cents per unit.
  • Cash Fees: $3,775 paid to certain finders.
  • Note: The company updated finder fee information previously disclosed in press releases dated Dec. 15, 2025, and Dec. 16, 2025.