Copper Giant Resources Corp. Upsized Non-Brokered Private Placement to $12,000,000
Overview
Copper Giant Resources Corp. announced an increase to its previously announced non-brokered private placement from $10,000,000 to an aggregate of 30,000,000 units at a price of $0.40 per Unit, for gross proceeds of $12,000,000. Each Unit will consist of one common share and one half of one warrant, with each whole warrant exercisable at C$0.60 per share for 36 months from the closing date. The Company intends to use the net proceeds for working capital and general corporate purposes.
Key Highlights
- Increased previously announced non-brokered private placement from $10,000,000 to 30,000,000 Units at $0.40 per Unit for gross proceeds of $12,000,000
- Each Unit: one common share and one half of one warrant.
- Each whole warrant exercisable to purchase one share at an exercise price of C$0.60 per share for 36 months from the closing date.
- Completion remains subject to TSX Venture Exchange approval; securities issued will be subject to a four-month-and-one-day statutory hold period.
- Net proceeds intended for working capital and general corporate purposes.
Strategic & Operational Context
Copper Giant stated it was formed with a singular focus to advance high-quality copper projects beyond resource definition, and that its current focus is the Mocoa copper-molybdenum deposit in southern Colombia. The Company described Mocoa as one of the largest undeveloped resources of its kind in the Americas and cited recent exploration success indicating potential beyond its original footprint.
Finders & Regulations
- Finders' fee: the Company anticipates paying a finders' fee payable in cash to certain eligible parties on a portion of the placement, and may issue non-transferable finders' warrants to eligible finders.
- Regulatory and resale restrictions: completion subject to TSX Venture Exchange approval; four-month-and-one-day statutory hold period.
What to Watch Next
- TSX Venture Exchange approval and closing of the offering.
Commentary
The upsize to $12,000,000 increases the Company’s planned financing capacity, while the Unit structure includes warrants that could provide additional future capital if exercised at C$0.60 per share. The stated use of proceeds indicates the funds are intended to support working capital and general corporate purposes.
About Copper Giant Resources Corp.
Copper Giant Resources Corp. is part of the Fiore Group and was formed to advance high-quality copper projects beyond resource definition. The Company is focused on the Mocoa copper-molybdenum deposit in southern Colombia and is led by a team it describes as having experience taking major copper mines from discovery through to construction. Copper Giant states it is guided by a Good Neighbor philosophy and is committed to creating enduring value for stakeholders while supporting the global energy transition.
ArcStone Financial Pulse Team
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