Canadian Copper arranges $2.2-million offering

Executive Summary

• Canadian Copper Inc. announced a non‑brokered flow‑through share offering of up to 2,933,334 shares at C$0.75 per share, targeting gross proceeds of approximately C$2.2 million.
• The entire offering is fully subscribed by existing shareholders and will fund the company’s 2026 exploration program for Murray Brook, Caribou and future Bathurst‑camp projects.
• Proceeds will be used for ~2,500 m of diamond drilling, geophysical work, and a five‑month regional exploration campaign on the Caribou horizon, with eligible expenses to be incurred by Dec 31 2027.

Key Details

• Offering Size: Up to 2,933,334 flow‑through shares (each share equals one common share).
• Price per Share: C$0.75.
• Gross Proceeds Target: Approximately C$2.2 million.
• Subscription: Fully subscribed; placed with ~15 existing shareholders owning >45 million common shares collectively, including Crescat Capital.
• Use of Proceeds:
• Complete ~2,500 m of diamond drilling (including downhole surveys) to test western extensions of the Murray Brook copper mineralization.
• Conduct geophysical studies to improve subsurface geological models and guide drill/regional exploration.
• Execute a five‑month regional exploration program across the 18‑km Caribou horizon.
• Eligibility: All expenditures qualify as flow‑through critical‑mineral mining expenses under the Canadian Income Tax Act, to be incurred on or before Dec 31 2027 and renounced to shareholders by Dec 31 2026.
• Closing Date: Expected on or about Feb 24 2026 (subject to change).
• Finder’s Fees: Up to 6 % of gross proceeds may be paid as cash commissions to arm’s‑length third parties.
• Regulatory Conditions: Subject to Canadian Securities Exchange and other regulatory approvals; a statutory four‑month‑plus‑one‑day hold period applies to the securities issued.

Notable Quotes

“This straight common share FT offering is fully subscribed and was placed with approximately 15 existing shareholders… These existing shareholders, including Crescat Capital, will fund the entirety of the 2026 exploration program we announced last week.” – Simon Quick, Chief Executive Officer, Canadian Copper Inc.