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VANCOUVER, BC, March 21, 2025 /CNW/ - SUPER COPPER CORP. (CSE: CUPR) (OTCQB: CUPPF) (FSE: N60) ("Super Copper" or the "Company") is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement of units (the "Units"), raising gross proceeds of $340,000 in this tranche. Together with the first tranche, the Company has raised a total of $515,000 across both rounds (the "Offering").
Super Copper Corp. Logo (CNW Group/Super Copper Corp.)
"We are thrilled to close this oversubscribed financing with the support of strong, strategic investors who share our vision for Super Copper's growth," said Zachary Dolesky, CEO of Super Copper. "This capital injection provides us with a solid foundation to advance our chemical division and progress our copper project through to the next stage. We're excited to continue pushing on all fronts ahead as we work to deliver value to our shareholders."
Under the final tranche of the Offering, the Company issued 850,000 Units at a price of $0.40 per Unit. Each Unit will be comprised of one common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire an additional common share at a price of $0.65 per common share until March 20, 2027, subject to acceleration.
The Warrants will be subject to an acceleration right held by the Company, such that if the share price closes at $1.00 or above for a period of 5 consecutive trading days, the Company may, at any time after such an occurrence, give written notice (via news release) to the holders of the Warrants that the Warrants will expire at 5:00 p.m. (Vancouver time) on the 30th day following the giving of notice unless exercised by the holders prior to such date. Upon receipt of such notice, the holders of the Warrants will have 30 days to exercise their Warrants and any Warrants that remain unexercised will expire.
The Company paid cash finder's fees of $2,660 and US$2,500 and issued 6,650 finder's warrants having the same terms as the Warrants to arm's length finders in connection with the final tranche of the Offering.
The proceeds raised from the Offering are expected to be used for marketing, investor relations, working capital, and general corporate purposes. All securities issued under the final tranche of the Offering will be subject to a four month hold period, expiring on July 21, 2025 in accordance with applicable Canadian securities laws.
About Super Copper Corp.
Super Copper is a mining exploration company with a Material Science and Technology Division focused on developing innovative chemical solutions to improve metal recovery processes and reduce chemical waste in the mining industry. The Company is also advancing its flagship copper project in Atacama, Chile, a region with world-class infrastructure and the presence of global majors. | www.supercopper.com
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Company's securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Forward Looking Statements
This press release contains certain forward-looking statements, including statements regarding the Company's the intended use of funds, and acceleration of the expiry date of the Warrants. The words "expects," "anticipates," "believes," "intends," "plans," "will," "may," and similar expressions are intended to identify forward-looking statements.
Although the Company believes that its expectations as reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied in these statements due to various factors, including, but not limited to, changes in global copper demand, political and regulatory risks in Chile, operational and exploration risks, market conditions, and the availability of financing.
Readers are cautioned not to place undue reliance on forward-looking statements, which are made as of the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.
