The 6ix Report - Kodiak Closes Oversubscribed Upsized Private Placement

0:26 Hello everyone and welcome to The Sticks Report. I'm here with Claudia Turnquist, President and CEO of Kodiak Copper Corp. To discuss their latest financing. Now, Claudia, Tech Resources participated in this financing to maintain its 9.9% ownership of Kodiak Copper. For people new to the story, when and how did TEC get involved? What do they like about your project so much?

0:46 TEC invested right after our initial discovery at the Gate Zone at our MPD project in southern British Columbia. That was in late 2020. It was received very well by the market, which of course saw that as a validation of the project. Tech is a very large multinational company. They're not interested in small projects.

1:12 And it was seen at the time that they obviously invested because they see the potential for NPD to be a large project. That's what we believe as well. That's what we like about it. And TEC has been a very supportive shareholder ever since. They have invested in every financing And it's a real pleasure working with them.

1:36 Now this financing specifically was oversubscribed. Can you further elaborate on the terms of the financing and where the demand came from?

1:44 We had very strong demand for the financing. The financing was a mix of a board deal and a private placement. We ended up raising $8.5 million and are now fully financed for all our work this year, which is fantastic. And we had a real mix of participants, strong participation by insiders. Our chairman, Chris Taylor, invested. So did a number of other shareholders. And we also gained some new shareholders, some institutional ones and also some retail shareholders.

2:19 And you're in a copper mining district in southern BC, correct? Can you touch on the MPD project and how your drill results stack up to some of the neighboring projects?

2:29 As you mentioned, we are in the mining district, And that's a very important point when you think about the MPD project. It's a big advantage because we have all the infrastructure there. It's very cost effective to explore compared to more remote regions.

2:48 And it now makes for very cost-effective exploration and also in the future will be a big advantage when it comes to building and running a mine. Now When we initially drilled and hit the gate zone in our maiden drill program, the reason that generated a lot of excitement was that it was the grades we drilled there were significantly

3:14 higher than firstly what was drilled in the past in the area and also compared really well and were higher than that grade that is mined at the neighboring mines. So with the gate zone, we were able to discover a nice high grade poultry center that was right at the start. We have since been able to extend it significantly. And that's, of course, very promising. Perfect. And you mentioned that the 2023 exploration program at the MPD project, my apologies, will be an exciting one. Can you provide some insights into the key objectives and milestones you aim to achieve during this field season?

3:52 You're quite right. 2023 will be a very important and somewhat pivotal year for the company because we will now take the approach that led to our discovery at the gate zone and we'll test several new targets on the property. We have 4 or 5 different targets lined up for drilling and whereas for the last 2 years we primarily drilled at the gate zone and extended our first discovery. This year is all about making the next discovery or discoveries

4:27 as we are testing these targets. So it will be very exciting. These POFI centers, they occur in clusters and we have a number of very high priority and promising targets. So it will be an exciting year.

4:42 Thank you. And how can our audience learn more about the company? First stop, I would suggest our website, kodiakopperkorp.com.

4:51 And of course, always feel free to get in touch directly. Thank you so much.