CopperEx Announces Private Placement
February 07, 2025 6:00 AM EST | Source: CopperEx Resources Corporation
Vancouver, British Columbia--(Newsfile Corp. - February 7, 2025) - CopperEx Resources Corp. (TSXV: CUEX) (the "Company" or "CopperEx") announces a "best efforts" private placement (the "Offering") for aggregate gross proceeds of C$1.5 million through the sale of up to 26,666,667 units of the Company (the "Units") at a price of $0.05625 per Unit.
Each Unit will be comprised of one common share (a "Common Share") and one full common share purchase warrant of the Company (each common share purchase warrant, a "Warrant"). Each Warrant shall be exercisable to acquire one common share of the Company (a "Warrant Share") for a period of 24 months from the date of issue at an exercise price of C$0.15 per Warrant Share.
The proceeds from the Offering will be used to fund exploration activities at the Company's projects in Chile and Peru and for general working capital.
Certain directors and officers of the Company may acquire Units under the Offering. Any such participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25% of the Company's market capitalization.
The Company may pay a finder's fee in connection with the private placement and this financing is subject to the approval of the TSX Venture Exchange. All securities to be issued in the private placement will be subject to a four month hold period from the closing date under applicable securities laws in Canada and amongst other things, receipt by CopperEx of all necessary regulatory approvals, including TSX Venture Exchange approval.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (The "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Additional information about CopperEx and its Projects can be found on the Company's website at copperexcorp.com, or email info@copperexcorp.com.
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On behalf of the Board of Directors
CopperEx Resources Corp.
Dave Prins
President & CEO
About CopperEx Resources Corp.
CopperEx is a copper and gold focused exploration company with porphyry and porphyry related gold and copper projects located in Chile and Peru in established mineral belts near producing mines.
CopperEx owns 100% of its Kio Buggy (Northern Chile) and La Rica (Apurimac province Peru) properties, also with no attached royalties.
Strategic Alliances.
CopperEx is a member of Discovery Group based in Vancouver, Canada. For more information please visit: discoverygroup.ca.
Cautionary Note.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information.
Forward-Looking Statement (Safe Harbor Statement): This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the Company's exploration plans. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks, and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors, and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239981
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