Canadian Copper increases placement to $15-million

Executive Summary

• Canadian Copper Inc. upsized its previously announced private placement from $10 million to $15 million, issuing up to 75 million units at $0.20 per unit.
• The additional $5 million will fund the final payment for the Caribou processing complex acquisition, accelerate 2026 field work, and extend liquidity into Q1 2027.
• A special shareholders’ meeting on Nov 10 2025 will seek approval of the upsized placement and related corporate actions.

Key Details

• Upsized Offering: Up to 75 million units (each unit = 1 common share + ½ warrant) at $0.20 per unit; gross proceeds up to $15 million.
• Warrant Terms: Half‑share purchase warrants expire in 12 months, exercise price $0.25; accelerated exercise if the share price ≥ $0.30 for ten consecutive VWAP trading days.
• Commitments Received: Full commitment secured, including a $2 million investment from Crescat Capital.
• Use of Proceeds (expanded):
• Satisfy remaining $6 million payment to close the Caribou processing complex transaction.
• Finance upcoming metallurgical program and meet H1 2026 environmental impact assessment schedule.
• Provide additional working capital for Q1 2027, covering design/engineering field work in 2026.
• Accelerate key development activities slated for late‑2026 (RFPs to be issued Q4 2025).
• Maintain and improve the Caribou processing complex over a longer term.
• Enable “stacking” of sequential project activities to shorten overall schedule.
• Closing Timeline: Expected closing on Nov 12 2025, contingent upon shareholder approval at the special meeting.
• Special Shareholders’ Meeting: Scheduled for Nov 10 2025 (11 a.m. Toronto time, via Microsoft Teams). Agenda includes:
• Approval of the upsized private placement (issuing >100 % of current shares).
• Authorization of Ocean Partners as a new control person.
• Caribou Processing Complex Acquisition: Ongoing negotiations with New Brunswick province; target closing in Q4 2025.

Notable Quotes

“Near‑term development projects with a care and maintenance component require a sufficient level of working capital for timely execution. Dilution is challenging, but we believe it is necessary to deliver on our near‑term development strategy.” – Simon Quick, CEO, Canadian Copper Inc.