Vancouver, British Columbia--(Newsfile Corp. - January 22, 2024) - Copper Standard Resources Inc. (CSE: CSR) ("Copper Standard" or the "Company") announces that further to its press releases dated December 1, 2023, December 19, 2023 and December 22, 2023, the Company has closed the second and final tranche (the "Final Tranche") of its non-brokered private placement (the "Private Placement") on January 19, 2024. Under the Final Tranche, the Company issued 3,388,877 units ("Units") at a price of $0.45 per Unit for gross proceeds of $1,524,994.65. Pursuant to the Private Placement, the Company issued an aggregate of 11,154,964 Units at a price of $0.45 per Unit for total gross proceeds of $5,019,733.80.
Each Unit is comprised of one common share ("Share") and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase one additional Share of the Company at an exercise price of $0.90 per Share for a period of five years following the issuance of the Units.
The Company intends on using the net proceeds of the Private Placement as indicated in its amended offering document dated December 19, 2023. No finder's fees were paid in connection with the Final Tranche.
Marcel de Groot, President and CEO of the Company commented, "We were pleased to see such strong support in this financing with demand well in excess of what we raised. The primary use of the proceeds will be to advance Colpayoc and working capital purposes, as we anticipate drilling later in this quarter."
The securities distributed under the Private Placement were issued in accordance with applicable Canadian securities laws.
About Copper Standard Resources Inc.
Copper Standard is a resource-stage mining company with a focus on copper and gold, with an option to acquire 100% of the Colpayoc Property in Peru. Colpayoc has significant, untested potential for supergene and porphyry copper - gold mineralization at depth, beneath drill holes bottoming in oxide gold-copper mineralization. Colpayoc is largely untested with limited drilling and is similar to many of the world class porphyry copper-gold deposits within the prolific Yanacocha District. Copper Standard continues to evaluate opportunities in the mineral sector on an ongoing basis.
For more information about Copper Standard, please visit our website at or email us at info@copperstandard.com.
Marcel de Groot, President & Director
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation relating to the anticipated use of proceeds. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "suggests," "indicate," "often," "target," "future," "likely," "pending," "potential," "goal," "objective, " "prospective," and "possibly," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with risks associated with mineral exploration operations, including the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at for a more complete discussion of such risk factors and their potential effects.
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