Copper Road Secures $120,000 to Boost Exploration Efforts

Author: Evelyn Baker Updated: 09-10-2024 04:46 PM

Copper Road Secures $120,000 for Growth Initiatives

Copper Road Resources Inc. (TSXV: CRD) has successfully completed a non-brokered private placement, raising $120,000 by issuing 6,000,000 common shares. This significant funding aims to bolster the company's exploration efforts on the Mount Jamie property as well as support its general working capital needs.

Details of the Private Placement

The completion of this offering showcases Copper Road's commitment to advancing its exploration initiatives. The newly issued common shares are subject to a statutory hold period lasting four months and one day, and the transaction is now pending final approval from the TSX Venture Exchange.

Participation of Insiders in the Offering

Notably, certain insiders participated in this offering, classifying it as a related party transaction under Multilateral Instrument 61-101, which protects the interests of minority security holders. Copper Road was able to move forward without a formal valuation or minority shareholder approval owing to exemptions provided by the regulatory framework. A material change report related to this insider participation will be filed shortly, demonstrating the company's proactive approach to financing while adhering to regulatory obligations.

About Copper Road Resources Inc.

Based in Canada, Copper Road Resources (TSXV: CRD) is dedicated to exploring and evaluating opportunities in mining precious and base metals. The company continuously seeks new ways to leverage its resources for maximum growth potential.

Future Plans and Goals

With the new funds, Copper Road is orchestrating plans that are expected to pave the way for more comprehensive exploration activities at the Mount Jamie property. This is pivotal, especially considering the area's potential for rich mineral deposits and the increasing demand for base and precious metals in the global market.

Contact Information

For further details, interested parties can reach out to:

Mark Goodman, Interim President and Chief Executive Officer.
Email: mgoodman@libralithium.com
Web: www.copperroad.ca

Frequently Asked Questions

What is the purpose of Copper Road's recent funding?

The funding will be used for exploration activities and general working capital at the Mount Jamie property.

How many shares did Copper Road issue in the recent placement?

Copper Road issued 6,000,000 common shares as part of the private placement.

What does the participation of insiders in the offering mean?

It refers to related party transactions that signify insiders' investments in the funding, exempt from formal valuation due to existing regulations.

What does TSXV: CRD stand for?

TSXV: CRD represents Copper Road Resources on the TSX Venture Exchange, indicating its listed status for public trading.

What are Copper Road’s primary exploration targets?

The company focuses on precious and base metals, primarily investing in areas with a historic potential for mining opportunities.

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