Toronto, Ontario--(Newsfile Corp. - October 2, 2025) - Canadian Copper Inc. (CSE: CCI) ("Canadian Copper" or the "Company") announces that it is increasing the previously announced private placement of 50,000,000 units at a price of $0.20 per unit for gross proceeds up to $10,000,000 ("Private Placement) by $5,000,000, for gross proceeds up to $15,000,000 (the "Upsized Private Placement"). The Upsized Private Placement would result in the issuance of up to 75,000,000 units. The Company has received commitments for the entire Upsized Private Placement, including a $2,000,000 investment from Crescat Capital, a global macro asset management firm.
Each unit of the Upsized Private Placement will consist of one common share of the Company and one-half share purchase warrant. Each one-half warrant has a twelve-month expiry and an exercise price of $0.25. The warrant will be subject to an accelerated exercise clause in the event the Company's share price valued at $0.30 or more for ten consecutive trading days on a volume-weighted average price basis.
Explanation for the Upsize
The original $10,000,000 Private Placement provided sufficient capital to execute on several key objectives. Those items included satisfying the final $6,000,000 payment required to close the Caribou Processing Complex transaction, fund the up-coming metallurgical program, and meet our Environmental Impact Assessment submittal schedule of H1, 2026. To further extend our liquidity trajectory and reduce execution risk with the upcoming 2026 design and engineering field work season, the Company will increase our access to an additional $5,000,000 in working capital. It is expected these funds will provide necessary liquidity into Q1, 2027.
Simon Quick, CEO of Canadian Copper, stated, "Near-term development projects with a care and maintenance component require a sufficient level of working capital for timely execution. Dilution is challenging, but we believe it is necessary to deliver on our near-term development strategy. To date, more than 85% of the current Private Placement participants are from existing shareholders of Canadian Copper. We thank both our current and welcome our new shareholders who are a strong complement to the share registry. We will be judicious in how we allocate further units in excess of the previously announced $10M financing as we advance Canadian Copper's next growth phase."
Upsized Private Placement - Use of Proceeds
In addition to the previously announced use of proceeds discussed in the Private Placement announcement on September 16th, 2025, additional available capital would be used to:
- Accelerate certain key development and field activities planned to occur later in 2026.
- Request for proposals of key activities will be delivered in Q4, 2025 such that key activities can start early in 2026.
- Provide additional capital to maintain and improve the Caribou Process Complex over a longer period.
- Evaluate ways to improve our project development schedule by stacking certain activities previously designed to be performed sequentially.
The Private Placement is expected to close on November 12, 2025, subsequent to the approval of the Shareholders at the Special Meeting.
Special Meeting of Shareholders
The Special Meeting of Shareholders will be held November 10th, 2025, at 11:00 a.m. (Toronto) via Microsoft Teams. Meeting materials are being mailed out and will be available on SEDAR+.
The purpose of the Special Meeting is to:
- Approve the size of the Private Placement, issuing more than 50% of the current issued and outstanding shares of the Company.
- Approve the Upsized Private Placement, issuing more than 100% of the current issued and outstanding shares of the Company.
- Approving the participation of Ocean Partners, thereby creating a new control person in the Company.
Caribou Processing Complex Acquisition Timeline
Detailed discussions between the Company and the Province of New Brunswick related to Caribou Processing Complex hand-over activities continue to progress well. The Company plans to close the Caribou Processing Complex transaction in Q4, 2025.
About Canadian Copper Inc.
Canadian Copper is a Canadian-based mineral exploration and development company with defined copper and other base metals resources. The Company is focused on the prolific Bathurst Mining Camp (BMC) of New Brunswick, Canada. There are currently 105,031,836 shares issued and outstanding in the Company.
For more information, please contact:
Simon Quick, Director and CEO
email simon@canadiancopper.com / ir@canadiancopper.com
phone (905)-220-6661
web www.canadiancopper.com
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary and Forward-Looking Statements
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the Private Placement, Caribou acquisition, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's option to acquire properties under the Puma Option Agreement, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the CSE), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk and Uncertainties" in the Company's annual management discussion and analysis for the year ended October 31, 2024 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR+ website at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268839
SOURCE: Canadian Copper Inc.
