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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.