Super Copper closes $9.75-million private placement

Executive Summary

• Super Copper Corp. has closed a brokered private placement raising $9.75 million in gross proceeds.
• The company issued 13 million units at a price of $0.75 per unit, with each unit consisting of one common share and one share purchase warrant.
• Net proceeds are designated for advancing two Chilean copper projects (Cordillera Cobre and Castilla) toward drill-ready status, conducting geophysical surveys, and funding general and administrative expenses.

Key Details

• Gross Proceeds: $9.75 million.
• Units Issued: 13,000,000 units.
• Price Per Unit: $0.75.
• Warrant Structure:
  • Each unit includes one share purchase warrant.
  • Series A Warrants: 6,566,666 units issued. Entitle holder to acquire one share at $1.15/share for 36 months post-closing.
  • Series B Warrants: 6,433,334 units issued. Entitle holder to acquire one share at $1.15/share, exercisable from 61 days post-closing until 36 months post-closing.
• Agent Compensation:
  • Cash commission: 6.0% of gross proceeds.
  • Non-transferable warrants issued to agents representing 6.0% of aggregate units sold.
  • Broker warrants entitle holder to purchase one share at $1.15/share for 36 months post-closing.
  • Hold period for agent securities: 4 months and 1 day from closing.
• Regulatory Context:
  • Offered via Listed Issuer Financing Exemption (NI 45-106) in Alberta, British Columbia, Saskatchewan, and Ontario.
  • Units issued to Canadian residents are not subject to resale restrictions.
  • Related party transaction: Two subscribers purchased an aggregate of 677,072 units. Exemptions from formal valuation and minority shareholder approval were relied upon as the transaction value does not exceed 25% of market capitalization.
• Use of Proceeds:
  • Advance Cordillera Cobre and Castilla projects to drill-ready status.
  • Complete property-wide magnetics and induced polarization (IP) surveys at Castilla to map IOCG targets and sulphide concentrations.
  • Complete maiden and follow-up drilling programs at Cordillera Cobre.
  • General and administrative expenditures, including marketing and investor relations services.