Copper Road Secures $120,000 to Advance Exploration and Operations
Copper Road Resources Inc. (TSXV: CRD) has closed a non-brokered private placement, raising $120,000 through the issuance of 6,000,000 common shares. The company plans to use the proceeds to push ahead with exploration at its Mount Jamie property and to support general working capital needs that keep day-to-day operations moving.
Private Placement Details
This financing underscores Copper Road’s focus on moving its exploration pipeline forward. The newly issued common shares are subject to a statutory hold period of four months and one day. The placement has been completed and now awaits final approval from the TSX Venture Exchange.
Insider Participation and Regulatory Notes
Certain insiders took part in the offering. As a result, the placement is considered a related party transaction under Multilateral Instrument 61-101, which is designed to protect minority security holders in special transactions. Copper Road relied on available exemptions under MI 61-101 to proceed without a formal valuation or minority shareholder approval. A related material change report will be filed shortly, reflecting the company’s intent to finance responsibly while staying within the regulatory framework.
About Copper Road Resources Inc.
Based in Canada, Copper Road Resources (TSXV: CRD) explores and evaluates opportunities in both precious and base metals. The company’s approach centers on identifying prospects, testing their potential, and allocating capital to the most promising targets.
Plans and Next Steps
With this funding in hand, Copper Road intends to prepare for more thorough exploration work at the Mount Jamie property. The program is meant to build a clearer picture of the area’s mineral potential—work that matters as demand for base and precious metals continues to shape project priorities. The company’s goal is straightforward: use fresh capital to advance field work while maintaining the flexibility provided by adequate working capital.
Contact Information
For further details, please contact:
Mark Goodman, Interim President and Chief Executive Officer.
Email: mgoodman@libralithium.com
Web: www.copperroad.ca
Frequently Asked Questions
What will the $120,000 be used for?
The proceeds are earmarked for exploration at the Mount Jamie property and for general working capital, which supports ongoing corporate and operational needs.
How many shares were issued and under what terms?
Copper Road issued 6,000,000 common shares in a non-brokered private placement. These shares carry a statutory hold period of four months and one day before they can be freely traded.
Why is insider participation noteworthy?
Insider participation makes the transaction a related party transaction under Multilateral Instrument 61-101. Copper Road used available exemptions, so no formal valuation or minority approval was required, and a material change report will be filed.
What does TSXV: CRD represent?
TSXV: CRD is Copper Road Resources’ ticker symbol on the TSX Venture Exchange, identifying the company’s listing for public trading.
What is the focus of Copper Road’s exploration work?
The company concentrates on precious and base metals, with current funds supporting exploration activities at the Mount Jamie property and broader evaluation of prospective targets.
