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VANCOUVER, BC, Dec. 30, 2024 /CNW/ - SUPER COPPER CORP. (CSE: CUPR) (FSE: N60) ("Super Copper" or the "Company"), a mining exploration company focused on advancing high-potential copper assets, is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the "Offering"), raising gross proceeds of $284,954.
Under the first tranche of the Offering, the Company issued 1,238,932 units (each, a "Unit") at a price of $0.23 per Unit. Each Unit consists of one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.30 per share until December 27, 2026, subject to acceleration.
The Warrants are subject to an acceleration right held by the Company, such that if the share price closes at $0.45 or above for a period of five 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 $11,249 to an arm's length finder in connection with the first tranche of the Offering.
The proceeds raised from the Offering are expected to be used for marketing, investor relations, and working capital and general corporate purposes.
All securities issued in the first tranche of the Offering are subject to a four month hold period, expiring on April 28, 2025, under applicable securities laws in Canada.
About Super Copper Corp.
Super Copper is a mining exploration company focused on the acquisition, exploration and development of copper and precious metal projects. It is currently developing its joint venture in a prospective Chilean copper property located within the copper-rich Venado Formation in the province of Atacama, Northern 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.