Copper Quest Increases and Closes Unit Offering for Total Gross Proceeds of $2,099,890

Executive Summary

• Copper Quest closed an increased non‑brokered private placement, raising $2,099,890 through the issuance of 16,513,000 units at $0.13 per unit.
• Each unit includes one common share and one warrant (exercise price C$0.165); finder’s warrants and a $113,405.28 fee were also issued.
• The company granted 3,250,000 stock options to directors/officers/consultants at an exercise price of $0.15, vesting immediately for a five‑year term.

Key Details

• Offering Size: Gross proceeds of $2,099,890.
• Units Issued: 16,513,000 units @ $0.13 per unit.
• Unit Composition: 1 common share + 1 share purchase warrant (convertible at C$0.165 per share).
• Warrant Terms: Expire two years after issuance; accelerated expiry if the share price ≥ $0.50 for ten consecutive trading days (triggered after four months + 1 day).
• Finder’s Warrants: 872,348 warrants issued to finders; each exercisable at $0.165 for two years; same acceleration provision.
• Fees: $113,405.28 payable to finders in connection with the offering.
• Use of Proceeds: Intended for exploration activities and general working capital.
• Statutory Hold Period: All securities subject to a hold period expiring four months + 1 day after issuance (NI 45‑102).
• Stock Option Grant: 3,250,000 options granted to directors/officers/consultants; exercisable at $0.15 per share for five years; vest immediately; subject to a four‑month hold period under CSE policies.

Notable Quotes

(No direct quotes were provided in the release.)