Vancouver, British Columbia--(Newsfile Corp. - December 6, 2024) - Copperhead Resources Inc. ("Copperhead" or the "Company") announces that it intends to complete a non-brokered private placement for gross proceeds of up to $300,000 (the "Offering").
Pursuant to the Offering, the Company intends to raise gross proceeds of up to $100,000 from the issuance of flow-through common shares in the capital of the Company ("FT Shares") at a price of $0.10 per FT Share. The FT Shares will qualify as "flow-through shares" for the purposes of the Income Tax Act (Canada).
The Company also intends to raise gross proceeds of up to $200,000 from the issuance of hard dollar common shares in the capital of the Company ("HD Shares") at a price of $0.075 per HD Share.
The gross proceeds from the issuance of FT Shares will be used to incur "Canadian exploration expenses" that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) related to the Company's mineral exploration projects. The proceeds from the issuance of HD Shares will be used for working capital purposes and for the identification and evaluation of mineral properties.
The Offering is anticipated to close on or about December 20, 2024. All securities issued under the Offering will be subject to a four-month and one day statutory hold period in accordance with applicable securities laws. Completion of the Offering remains subject to CSE approval.
The securities issued pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Copperhead Resources Inc.
Copperhead Resources Inc. is a mineral resource company engaged in the business of acquiring and exploring mineral resource properties. The Company's principal objective is to locate and develop precious metals, focusing initially on the exploration and development of the Red Line Project, the Company's sole mineral exploration project located in British Columbia, Canada. The Company has acquired the option to acquire a 75% undivided right, title, and interest in and to the Red Line Project pursuant to an option agreement. From time to time the Company may also evaluate and acquire other mineral properties of merit, containing a variety of metals and minerals and located in a variety of geographical jurisdictions.
For further information about Copperhead, please contact:
Damian Lopez
President & CEO
Copperhead Resources Inc.
Phone: 647-368-7789
Email: damian@resurgentcapital.ca
Cautionary Statements Regarding Forward-Looking Information
This press release contains certain forward-looking statements, including those relating to the Offering and the use of proceeds thereof. These statements are based on numerous assumptions regarding the Offering and the Company's plans that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: risks related to the ability of the Company to satisfy the conditions of the Offering and to close the Offering; risks inherent in mineral exploration activities; mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties; the risk that the Company will not be able to raise sufficient funds to carry out its business plans; volatility in financial markets, economic conditions, and precious metals prices; regulatory approval processes; and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
Neither the Canadian Securities Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232759