Kodiak Copper Upsizes Financing to C$13.1 Million

About this update from Kodiak Copper Corp.

Vancouver, British Columbia--(Newsfile Corp. - June 2, 2026) - Kodiak Copper Corp. (TSXV: KDK) (OTCQX: KDKCF) (FSE: 5DD1) (the "Company" or "Kodiak") announces that, as a result of strong investor demand, the Company and Paradigm Capital Inc. have agreed to increase the size of the Company's previously announced "best efforts" private placement offering pursuant to the Listed Issuer Financing Exemption (as defined herein) of up to approximately C$13.1 million (the "Offering") (see news release June 1st, 2026). Paradigm Capital Inc. is acting as lead agent and sole bookrunner for the Offering, on its own behalf and on behalf of a syndicate of agents (the "Agents"). The upsized Offering will consist of: (i) up to 8,339,900 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 approximately C$10.6 million; and (ii) up to 3,048,900 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 approximately C$2.5 million. 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 amended additional proceeds of up to 15% of the aggregate gross proceeds of the Offering, 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 (Bri...

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