Canadian Copper Upsizes Private Placement

Executive Summary

• Canadian Copper Inc. upsizes its previously announced private placement from $10 M to $15 M, issuing up to 75 million units at $0.20 per unit.
• The additional $5 M will fund the final payment for the Caribou Processing Complex acquisition, accelerate 2026 development activities, and extend working‑capital runway into Q1 2027.
• A special shareholders’ meeting on November 10, 2025 will seek approval to issue more than 100 % of current outstanding shares and to admit Ocean Partners as a new control person.

Key Details

• Upsized Private Placement: Up to 75 million units (each unit = 1 common share + ½ warrant) at $0.20 per unit → gross proceeds up to $15 M.
• Warrant Terms: Half‑share purchase warrants expire in 12 months, exercise price $0.25, with accelerated exercise if the share price ≥ $0.30 for ten consecutive trading days (VWAP).
• Commitments Received: Full commitment secured, including a $2 M investment from Crescat Capital.
• Use of Proceeds – Additional $5 M:
• Accelerate key development and field activities slated for later 2026.
• Issue RFPs in Q4 2025 to start activities early 2026.
• Provide extra capital for ongoing maintenance/improvement of the Caribou Processing Complex.
• Enable “stacking” of sequential project tasks to improve schedule efficiency.
• Original $10 M Placement Objectives (still applicable):
• Satisfy final $6 M payment for Caribou Processing Complex acquisition.
• Fund upcoming metallurgical program.
• Support Environmental Impact Assessment submittal schedule for H1 2026.
• Closing Date: Expected November 12, 2025, contingent on shareholder approval.
• Special Meeting of Shareholders: November 10, 2025 (11:00 a.m. Toronto time) via Microsoft Teams; materials to be mailed and posted on SEDAR+.
• Agenda includes approval of the upsized placement, issuance of >100 % of current shares, and admission of Ocean Partners as a new control person.
• Caribou Processing Complex Acquisition: Ongoing hand‑over discussions with Province of New Brunswick; targeted 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.