Copper Road Announces Closing of Financing

Rhea-AI Summary

Copper Road (SAGGF) closed a non-brokered private placement on March 16, 2026, issuing 5,656,522 flow-through shares at $0.115 for gross proceeds of $650,500. Proceeds will fund qualifying Canadian exploration expenses, primarily at the Ben Nevis Project, renounced to subscribers effective December 31, 2026. Finder fees total $38,344 plus 250,478 finder warrants exercisable at $0.115 for 18 months. Securities are subject to a four-month-and-one-day statutory hold and require TSXV approval.

Positive

• $650,500 gross proceeds raised via oversubscribed offering
• Issuance of 5,656,522 flow-through shares to fund exploration
• Qualifying expenditures to be renounced to subscribers effective Dec 31, 2026

Negative

• Potential dilution from 5,656,522 new shares and 250,478 finder warrants
• Finder cash fees of $38,344 increase offering cost
• Completion subject to TSXV approval, creating execution risk

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, ON / ACCESS Newswire / March 16, 2026 / Copper Road Resources Inc. (TSXV:CRD) ("Copper Road Resources" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Offering"). The Offering was oversubscribed and consisted of the issuance of 5,656,522 flow-through shares (the "FT Shares") at a price of $0.115 per FT Share for aggregate gross proceeds of $650,500.

The gross proceeds from the sale of the FT Shares will be used to incur eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" as both terms are defined in Income Tax Act (Canada) ("Qualifying Expenditures"). All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares effective December 31, 2026. It is anticipated that the proceeds from the sale of FT Shares will be used for exploration of the Ben Nevis Project or on the Company's other Ontario properties.

A certain officer of the Company subscribed for an aggregate of 23,698 FT Shares under the Offering which participation constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on an exemption from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a), as the fair market value of the participation is not more than 25% of the Company's market capitalization.

Completion of the Offering is subject to receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange. In connection with the Offering, the Company has agreed to pay a cash commission in the aggregate of $38,344 to eligible finders and to issue 250,478 finder warrants each exercisable for a common share of the Company at a price of $0.115 for a period of 18 months. The securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws.

The securities have not been, and will not be, registered under the Unites States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state security laws, and may not be offered or sold in the Unites States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the Unites States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

For further information, please contact:

Brian Howlett, CPA
President and CEO
Copper Road Resources Inc.
brian@copperroadresources.ca
www.copperroadresources.ca
1-647-227-3035

Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) have reviewed or accept responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Information

This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Copper Road Resources. Forward-looking statements include estimates and statements that describe Copper Road Resource's future plans, objectives or goals, including words to the effect that Copper Road Resources or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Copper Road Resources, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding the Offering, regulatory approvals, intended use of proceeds of the Offering and tax treatment of the Offering. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Copper Road Resources disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Copper Road Resources Inc.

View the original press release on ACCESS Newswire

FAQ

What did Copper Road (SAGGF) announce about its March 16, 2026 financing?

Copper Road closed an oversubscribed non-brokered private placement raising $650,500. According to Copper Road, the company issued 5,656,522 flow-through shares at $0.115 per share to fund Canadian exploration.

How will the proceeds from the SAGGF flow-through share offering be used?

Proceeds will fund eligible Canadian exploration expenses, primarily at the Ben Nevis Project. According to Copper Road, these are qualifying expenditures that will be renounced to subscribers effective December 31, 2026.

What finder fees and warrants were issued in Copper Road's financing (SAGGF)?

The company agreed to pay $38,344 in cash commissions and issue 250,478 finder warrants. According to Copper Road, each finder warrant is exercisable at $0.115 for 18 months.

Did any related party participate in Copper Road's (SAGGF) offering?

Yes, an officer subscribed for 23,698 flow-through shares under the offering. According to Copper Road, the participation was treated as a related party transaction and relied on MI 61-101 exemptions.

Are the new Copper Road (SAGGF) securities available to U.S. investors?

No, the securities have not been registered under the U.S. Securities Act and may not be offered or sold in the United States. According to Copper Road, sales in the U.S. would require registration or a valid exemption.

When can shareholders expect issued SAGGF securities to be tradable?

Securities issued in the financing are subject to a statutory hold period of four months and one day. According to Copper Road, holders must comply with applicable securities laws and TSXV conditions before trading.