Business
Copper Road Announces Closing of First Tranche of Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Copper Road Resources Inc
[{"type":"text","content":"Copper Road Announces Closing of First Tranche of Financing\nNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, Dec. 24, 2025 (GLOBE NEWSWIRE) -- Copper Road Resources Inc. (TSX-V: CRD) (\"Copper Road Resources\" or the \"Company\") is pleased to announce that it has closed the first tranche (the “First Tranche”) of its previously announced non-brokered private placement (the “Offering”) consisting of the sale of 9,952,447 flow-through units ( the “FT Units”) at a price of $0.045 per FT Unit and 2,435,000 hard-dollar units (the “Units”) at a price of $0.04 per Unit for aggregate gross proceeds of $545,260. Each Unit consists of one common share of the Company and one common share purchase warrant (each, a “Warrant”). Each FT Unit consists of one common share and one Warrant of the Company each to be issued as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada). Each Warrant shall entitle the holder to purchase one common share of the Company at a price of $0.05 at any time on or before that date which is 18 months after the date of issuance. The gross proceeds from the sale of the FT Units will be used to incur eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures” as both terms are defined in Income Tax Act (Canada)(“Qualifying Expenditures”). All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Units effective December 31, 2025. It is anticipated that the proceeds from the sale of FT Units will be used for exploration of the Ben Nevis Project or on the Company’s other Ontario properties. A certain officer of the Company subscribed for an aggregate of 222,222 FT Units under the Offering which participation constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is relying on an exemption from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a), as the fair market value of the participation is n...