Copper Fox Announces $3,000,000 Non-Brokered Private Placement
Copper Fox Metals Inc. (CUU) has announced its intention to raise up to $3,000,000 in gross proceeds through a non-brokered private placement of up to 5,000,000 common shares at a price of $0.60 per share. The offering is subject to approval by the TSX Venture Exchange and is expected to close by July 27, 2026.
The company intends to allocate the net proceeds toward the exploration and development of its Van Dyke, Mineral Mountain, Eaglehead, and Sombrero Butte copper projects, as well as for working capital and general corporate purposes.
The private placement is available to existing shareholders under the "Existing Security Holder Exemption," as well as other prospectus exemptions including those for accredited investors and family, close personal friends, or business associates. Under the Existing Security Holder Exemption, shareholders must have been on the Record Date of June 28, 2026, and remain shareholders at the time of closing. Purchases must be made as principal for the investor’s own account. Unless suitability advice is obtained from a registered investment dealer, the maximum subscription amount is limited to $15,000 per 12-month period, with no minimum subscription amount required.
Ernesto Echavarria, a Director, Insider, and Control Person of the company, intends to subscribe for a minimum of 3,000,000 common shares. The company notes that these insider subscriptions may constitute a Related Party Transaction under TSXV Policy 5.9 and National Instrument 61-101. Copper Fox Metals intends to rely on exemptions from valuation and minority approval requirements, as the participation is not expected to exceed 25% of the company's market capitalization.
In the event of oversubscription or an imbalance, the company reserves the right to accept or reject subscriptions and may favor larger subscriptions over smaller ones. Securities issued in this offering will be subject to a hold period of four months plus one day from the date of completion.