King Copper Discovery Secures $15 Million for Exploration Growth
King Copper Discovery Corp. Secures Financing
King Copper Discovery Corp. (TSXV: KCP) is thrilled to inform stakeholders about its recent arrangement for a substantial $15 million financing initiative. This strategic move involves a non-brokered private placement, enabling the company to issue up to 65,217,392 common shares at a price of $0.23 per share.
Investor Interest in King Copper
A significant development in this financing is the participation of a strategic investor, who upon the closing of this deal, will hold about 9.99% of the company’s total shares on an undiluted basis. This partnership is pivotal, with the investor being recognized as an essential new shareholder for King Copper.
Utilizing Funds for Exploration
The funds raised from this financing are earmarked primarily for advancing exploration efforts, including an extensive diamond drilling program at the Company's flagship Colquemayo copper-gold project. Such initiatives aim to enhance the growth and prospects of King Copper in the mineral exploration landscape.
CEO Comments on the Financing
Jonathan Richards, the CEO of King Copper, expressed his enthusiasm regarding this strategic investment. He stated, "We are excited to add the strategic investor as a major shareholder of the Company. This financing enables King Copper to be fully-funded for a 15,000-meter drill program, facilitating exploration efficiencies at the Colquemayo project along the 12-kilometer mineralized corridor," underscoring the growth potential this financing brings.
Details of the Financing Agreement
In addition to the financing arrangements, King Copper and the investor will formalize an investor rights agreement. This agreement will confer several rights to the new investor, contingent upon them maintaining specific ownership levels. Notable among these rights will be the ability to participate in future equity financing opportunities. Furthermore, the investor may choose to nominate a representative to the board of directors, ensuring a voice in the company’s future direction.
Expected Closing and Advisor Role
The closing date for this financing is projected around September 17, 2025. Additionally, Eventus Capital Corp. has been appointed as an advisor for this financing initiative, bringing their expertise to secure successful investment outcomes.
About King Copper Discovery Corp.
King Copper Discovery Corp. is recognized as a remarkable exploration entity engaged in mineral resource development. Focused on the Colquemayo gold-copper project, they have a commitment to discovering new, economically viable mineral deposits. The seasoned team behind King Copper is known for several significant discoveries across the industry.
Commitment to Exploration
The company's dedication does not merely revolve around financial growth; it also emphasizes sustainable exploration practices. With industry-leading expertise, King Copper seeks to ensure responsible management of resources while delivering value to shareholders and stakeholders.
Contact Information
For more inquiries about King Copper Discovery Corp., interested parties may contact Jonathan Richards directly or can access their website at www.kingcopperdiscovery.com. For investor relations, call +1 604 229 5208 or reach out via email at info@kingcopperdiscovery.com.
Frequently Asked Questions
1. What is the purpose of the recent financing by King Copper?
The financing aims to raise funds for advancing exploration activities at the Colquemayo copper-gold project.
2. Who is participating in the financing?
A strategic investor will acquire approximately a 9.99% ownership stake in King Copper upon closing of the financing.
3. What will the funds be used for specifically?
Funds will support a 15,000-meter diamond drilling program and cover general working capital needs of the company.
4. When is the expected closing date for this financing?
The financing is expected to close on September 17, 2025.
5. How can investors get more information about King Copper?
Investors can visit the company's website or contact them directly for further inquiries.
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