Business
Canadian Copper Announces a Non-Brokered Flow-Through Offering
Toronto, Ontario--(Newsfile Corp. - March 31, 2025) - Canadian Copper Inc. (CSE: CCI) ("Canadian Copper" or the "Company") announces that it has initiated a non-brokered, flow-through share offering (the "FT Offering") of up to 2,631,580 flow-through shares (the "FT Shares") of the Company at a price of C$0.19 per FT Share with each FT Share consisting of one common share of the Company that qualifies as a flow-through share as defined in section 66(15) ...
About this update from Canadian Copper, Inc.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - March 31, 2025) - Canadian Copper Inc. (CSE: CCI) ("Canadian Copper" or the "Company") announces that it has initiated a non-brokered, flow-through share offering (the "FT Offering") of up to 2,631,580 flow-through shares (the "FT Shares") of the Company at a price of C$0.19 per FT Share with each FT Share consisting of one common share of the Company that qualifies as a flow-through share as defined in section 66(15) of the Income Tax Act (Canada). The FT Offering is for aggregate gross proceeds of up to $500,000.","length":596,"tagName":"p"},{"type":"text","content":"Simon Quick, CEO of Canadian Copper, stated, "This FT Offering is fully subscribed and placed with one group of strategic shareholders who are also interested in supporting the Caribou Complex acquisition financing. Murray Brook East is situated between two mines, remains underexplored, and is in a highly prospective region of the Bathurst Camp in New Brunswick. The previous owner (Votorantim Metals Canada) completed excellent work on this property including a 5.7 km soil survey which coincides with a strong geophysical anomaly. Our exploration plan for this area will include prospecting, trenching, and ~1,500 meters of drilling to test this target area." ","length":673,"tagName":"p"},{"type":"text","content":"The purpose and use for this proposed funding are to advance the Murray Brook East Project which is located between the Murray Brook deposit and the Caribou Complex (Figure A). The program will start in Q2 2025 and include prospecting, trenching and drilling activity. Murray Brook East has a minimum spend requirement of ~$140,000 per year to maintain its good standing status. Our budgeted figure of $500,000 will satisfy carry over holding expenses because of Canadian Copper's transaction with Votorantim Metals Canada.","length":527,"tagName":"p"},{"type":"text","content":"The proceeds of the FT Offering will be used to incur eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" as both terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's projects in New Brunswick, Canada. The Company plans to incur Qualifying Expenditures on or be...