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Idaho Copper (NYSE American:COPR) appointed four independent directors – Gil Atzmon, David Herskovits, Dr. John Moeller and Corey Redfield – to its Board of Directors and created Audit, Compensation, and Nominating and Corporate Governance committees. These moves establish an independent majority board following the company’s NYSE American uplisting.
According to Idaho Copper, the new directors add experience in mining development, public company audits, commodities trading and Idaho-specific permitting and environmental regulation. The strengthened governance structure is intended to support advancement of the CuMo copper-molybdenum-silver project through an updated PEA and toward a Prefeasibility Study.
Idaho Copper (NYSE American: COPR) announced leadership changes as it advances its CuMo copper-molybdenum-silver project in Idaho. Robert Scannell, previously Chief Financial Officer and a director, has been appointed Executive Chairman of the Board, effective immediately, and Bruce Harmon, formerly Controller, has been appointed Chief Financial Officer.
According to Idaho Copper, Scannell helped guide the company’s recent uplisting to the NYSE American and a concurrent $18 million public offering, and will now focus on capital markets strategy, financing and board leadership. Harmon brings over 45 years of financial experience, has led CFO services for more than 150 clients, participated in taking 17 companies public, and has prior mining-sector experience with Amoco Minerals.
Idaho Copper (NYSE American: COPR) appointed Ryan Mauser as Director of Technical Studies and Phillip J. Bandy Ogden as Director, Environmental, Governmental, and Community Affairs. The company said these hires strengthen technical, environmental and permitting leadership as it advances the CuMo copper-molybdenum-silver project through an updated PEA and toward a PFS.
Mauser adds 15 years of Rio Tinto technical study and capital evaluation experience, while Bandy Ogden contributes over 35 years of Idaho-focused environmental permitting, regulatory compliance, and government affairs leadership, including prior work on CuMo and roles in state government and local politics.
Idaho Copper (NYSE American:COPR) closed an underwritten public offering of common stock and warrants at $4.85 per share and accompanying warrant, raising gross proceeds of about $18 million before discounts and expenses.
Underwriters have a 45-day option for up to 556,800 additional shares and/or warrants, and purchased 556,800 warrants via a partial over-allotment exercise.
Proceeds are intended for an updated Preliminary Economic Assessment, initial Prefeasibility Study work, and general corporate purposes.