U.S. Copper closes $1.16-million private placement

Executive Summary

• U.S. Copper Corp. completed a non‑brokered private placement raising $1,165,000 in gross proceeds.
• The offering consisted of 11.65 million units at $0.10 per unit, each unit containing one common share and one warrant (exercise price $0.15, exercisable for two years).
• Proceeds will be used for general working capital and to advance the Moonlight‑Superior copper project, including baseline studies, metallurgical work, engineering studies, and geophysical surveys.

Key Details

• Units Issued: 11.65 million (each = 1 common share + 1 warrant).
• Price per Unit: $0.10 → total gross proceeds of $1,165,000.
• Warrant Terms: One whole warrant per unit; right to purchase one common share at $0.15 any time within 2 years after closing.
• Hold Period: All securities subject to a four‑month hold period.
• Finder’s Fees Paid: $5,700.
• Regulatory: Placement remains subject to final acceptance by the TSX Venture Exchange; material change report to be filed <21 days before closing.
• Use of Proceeds:
• General working capital.
• Advancement of Moonlight‑Superior copper project: baseline studies for permit applications, metallurgical studies for advanced engineering, and geophysical surveys targeting deeper targets.

Notable Quotes

(No direct quotes provided in the release.)