Kodiak Copper Announces C$10 Million Financing

About this update from Kodiak Copper Corp.

Vancouver, British Columbia--(Newsfile Corp. - June 1, 2026) - Kodiak Copper Corp. (TSXV: KDK) (OTCQX: KDKCF) (FSE: 5DD1) (the "Company" or "Kodiak") announces that it has entered into an agreement with Paradigm Capital Inc., as lead agent and sole bookrunner, on its own behalf and on behalf of a syndicate of agents (the "Agents"), in connection with a "best efforts" private placement offering pursuant to the Listed Issuer Financing Exemption (as defined herein), for aggregate gross proceeds to the Company of up to C$10 million (the "Offering"). The Offering consists of: (i) up to 6,295,000 charity flow-through common shares of the Company (the "Charity FT Shares") which will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "ITA")), at a price of C$1.271 per Charity FT Share for gross proceeds of up to C$8,000,945; and (ii) up to 2,440,000 common shares of the Company (the "HD Shares", and together with the Charity FT Shares, the "Offered Securities"), at a price of C$0.82 per HD Share for gross proceeds of up to C$2,000,800. In addition, the Company has granted the Agents an option (the "Agents' Option") to sell that number of additional HD Shares and/or Charity FT Shares at their respective issue prices for additional proceeds of up to C$1,500,000 exercisable by the Agents up to 48 hours prior to the closing of the Offering. The Offering will be completed pursuant to the terms of an agency agreement to be entered into among the Company and the Agents. The net proceeds from the issue of the HD Shares will be used for working capital and general corporate purposes. The Company will use an amount equal to the gross proceeds received by the Company from the sale of the Charity FT Shares to incur eligible "Canadian exploration expenses" (as defined in the ITA) that qualify as "flow-through critical mineral mining expenditures" (as defined in the ITA) and as "BC flow-through mining expenditures" as ‎defined in the Income Tax Act (British Columbia) (the "Qualifying Expenditures") related to the Company's projects in British Columbia, on or before December 31, 2027, and to renounce all the Qualifying Expenditures in favour of the initial sub...

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