01:06:40 EDT Tue 14 May 2024
Enter Symbol
or Name
USA
CA



Copper Road Resources Inc
Symbol CRD
Shares Issued 53,464,951
Close 2023-07-26 C$ 0.10
Market Cap C$ 5,346,495
Recent Sedar Documents

Copper Road closes $400,000 private placement

2023-07-27 13:16 ET - News Release

Mr. John Timmons reports

COPPER ROAD CLOSES $400,000 PRIVATE PLACEMENT

Copper Road Resources Inc. has completed its previously announced non-brokered private placement consisting of the sale of 71,426 units of the company at a price of seven cents per unit and 5,642,858 flow-through units of the company, each at a price of seven cents per FT unit, for aggregate gross proceeds of approximately $400,000. Each unit comprised one common share of the company and one-half of one common share purchase warrant. Each FT unit comprised one common share of the company issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one warrant. Each warrant entitles the holder thereof to purchase one common share of the company at a price of 15 cents for a period of 36 months the closing date of the offering.

The company intends to use the gross proceeds from sale of the FT shares for exploration activities on the company's key project located north of Sault St. Marie, Ont., and to incur eligible Canadian exploration expenses (within the meaning of the Tax Act) that will qualify for qualify for the federal 30-per-cent Critical Mineral Exploration Tax Credit. The net proceeds raised pursuant to the sale of the units will be used for general working capital purposes.

The company also paid cash fees and issued finder warrants to certain eligible finders equal to 7.0 per cent of the aggregate gross proceeds raised, and 7.0 per cent of the aggregate number of units and FT units sold, by such finders pursuant to the offering. Each finder's warrant entitles the holder to acquire one common share in the capital of the corporation at a price of 15 cents for a period of 36 months following the closing of the offering.

The securities issued pursuant to the offering are subject to a statutory hold period of four month and one day.

About Copper Road Resources Inc.

Copper Road Resources is a Canadian-based explorer engaged in the acquisition, exploration and evaluation of properties for the mining of precious and base metals. The company is exploring for large copper-dominant polymetallic deposits on the 21,000-hectare Batchewana Bay project 80 kilometres north of Sault St. Marie, Ont., Canada.

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