Copperhead to raise $4-million, change name to Deep Sea

Executive Summary

• Copperhead Resources Inc. (to be renamed Deep Sea Minerals Corp.) announced a non‑brokered private placement of up to 10 million shares at C$0.40 per share, targeting gross proceeds of up to C$4 million.
• Proceeds will fund repayment of an existing loan, general working capital and the company’s early‑stage entry into the deep‑sea critical minerals sector, including applications for subsea mineral rights.
• The offering includes finders’ fees and warrants (up to 7 % of shares sold) and is expected to close on or before Feb. 6 2026, subject to CSE approval and a four‑month statutory hold period.

Key Details

• Offering Size: Up to 10 million common shares
• Price per Share: C$0.40
• Maximum Gross Proceeds: C$4 million
• Closing Date: On or before Feb. 6 2026 (may close in one or more tranches)
• Finders’ Compensation: Up to 7 % of gross proceeds paid as cash fees; additional non‑transferable warrants equal to up to 7 % of shares sold.
• Warrant Terms: Each warrant allows purchase of one share at C$0.40 for 24 months from issuance.
• Use of Proceeds:
• Repayment of existing loan (as defined in the company’s Form 2A filing).
• General working capital to support:
  • Application for subsea mineral rights in priority jurisdictions.
  • Early‑stage engagement with Pacific Ocean governments and regulators.
  • Strategic initiatives related to deep‑sea polymetallic nodule exploration.
• Regulatory Conditions: Subject to corporate and regulatory approvals, including acceptance by the Canadian Securities Exchange (CSE). No minimum subscription amount required.
• Statutory Hold Period: Four months plus one day from issuance per securities legislation and CSE policy.
• Corporate Rebrand: Company will change its name to Deep Sea Minerals Corp. and trade under ticker SEAS on the CSE, pending final approval (expected around Jan. 26 2026).

Notable Quotes

“This private placement will enable Deep Sea to accelerate early‑stage value capture and to deliver on its growth objectives,” said James Deckelman, Chief Executive Officer of Deep Sea. “It will secure the working capital required to apply for subsea mineral rights in priority jurisdictions and to aggressively pursue other strategic initiatives.”