Star Copper Appoints Veteran Company Builder Brad Nichol as Chairman
Rhea-AI Summary
Star Copper has appointed Brad Nichol as Chairman of the Board and announced a concurrent $6 million private placement. Nichol, known for his success with Alpha Lithium where he led a $313 million all-cash exit, brings over 25 years of experience in finance and resource sectors.
The financing includes:
- 6 million non-flow-through units at $0.50 per unit ($3M)
- 5.26M flow-through shares at $0.57 per share ($3M)
Funds will primarily advance the company's Star Project in British Columbia, with $2.5M allocated for geological mapping, diamond drilling, environmental studies, and resource modeling. Additional proceeds will support the Indata Project. The company also signed a 12-month marketing agreement with Zimtu Capital for $12,500 monthly under the ZimtuADVANTAGE program.
Positive
- Appointment of Brad Nichol as Chairman - proven track record of delivering shareholder value (led $313M all-cash exit at Alpha Lithium)
- $6M financing secured through private placement ($3M non-flow-through units, $3M flow-through shares)
- $2.5M allocated specifically for Star Project development including drilling, surveys, and resource modeling
- Strong leadership credentials - 25+ years experience in finance and resource sectors
- Clear allocation of funds with specific development plans for both Star and Indata projects
Negative
- Potential shareholder dilution from new share issuance
- Early-stage exploration status - no defined resource estimate yet
- Additional capital raises may be needed for future development
- Marketing expenses of $12,500 monthly for Zimtu services
News Market Reaction
On the day this news was published, STCUF gained 8.85%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Company Announces Concurrent
VANCOUVER, BC / ACCESS Newswire / April 29, 2025 / Star Copper Corp. (CSE:STCU)(OTC:STCUF) (the "Company"), a Canadian resource sector exploration and development company is pleased to announce the appointment of Mr. Brad Nichol as Chairman of the Board. Concurrently, the Company announces it is undertaking a six-million-dollar financing, principally aimed at asset development.
Brad Nichol, Chairman of the Board
Mr. Nichol is no stranger to building and unlocking extraordinary value in the resource sector. Best known as the driving force behind Alpha Lithium, whose shareholders accepted a
"Brad doesn't just lead companies-he builds them from the ground up," notes Darryl Jones, CEO of Star Copper. "What he accomplished with Alpha Lithium was remarkable, and we believe his experience is a perfect fit for what we're building at Star."
"What excited me most about Star Copper is how familiar this story feels," newly appointed chairman Nichol states. "It's early-stage, underappreciated, and has already shown serious upside. That's exactly how Alpha Lithium started, and I believe we have a chance to do it all over again."
For over 25 years, Mr. Nichol has served as both senior executive and director of numerous public and private enterprises across the finance and resource sectors worldwide. He has led successive organizations through multiple rounds of private and public financing initiated and executed dual listings in North America and Europe, established key international and domestic financial relations, overseen a myriad of executive management and technical roles, and closed several accretive asset acquisitions and financings in multiple jurisdictions. He previously served at Schlumberger (now "SLB") in various technical, managerial, marketing and sales roles in North America, South America and Europe. Mr. Nichol earned his MBA at the London Business School (Distinction 2003) and holds a BSc. in Mechanical Engineering from the University of Alberta (1992) and has been a registered Professional Engineer since 1994.
Effective May 1, 2025, the Board of Directors welcomes Mr. Nichol and looks forward to his guidance in advancing the company's strategic objectives.
Concurrent Financing
Star Copper is pleased to announce it intends to conduct a non-brokered private placement of up to 6,000,000 non-flow-through units (each a "Unit") of the Company at a price of
Each Unit will be comprised of one common share of the Company and one common share purchase warrant, with each warrant exercisable to acquire one common share of the Company at a price of
The Company intends to use the net proceeds of the Offering for project evaluation, general working capital purposes and investor relations activities. Proceeds of the FT Shares are principally intended to advance the Company's British Columbian flagship Star Project, where significant exploration work including historical drilling has confirmed open mineralization at depth and in multiple directions. Please refer to the Company's February 26, 2025 Technical Report in respect of the Start Project, available under its profile at www.sedarplus.ca, for more information. Assuming completion of the maximum FT Share Offering, the Company intends to allocate a minimum of
Geological mapping and geophysical surveys to refine existing targets;
Diamond drilling programs to test high-priority zones;
Environmental baseline studies and permitting groundwork; and
Data analysis and resource modeling to support a future NI 43-101 resource estimate on the Star Project.
Additional FT Share proceeds are slated to advance its Indata Project as follows:
Follow-up drilling to expand on previous high-grade copper and gold intercepts,
Trenching and surface sampling to delineate mineralized zones, and
Infrastructure improvements for site accessibility and operations.
Marketing Agreement
Star Copper is also pleased to announce it has signed an agreement with Zimtu Capital Corp. (TSX.V: ZC) (FSE: ZCT1) ("Zimtu") whereby Zimtu will provide marketing services under its ZimtuADVANTAGE program, effective May 1, 2025 for an initial term of 12 months at a cost of
Qualified Person
Jeremy Hanson, P. Geo., a Qualified Person as that term is defined under NI 43-101, is an advisor to the Company and has reviewed and approved the technical aspects of this news release.
About Star Copper Corp. (CSE:STCU)(OTC:SCUF)
Star Copper Corp. is a Canadian-based exploration and development company focused on advancing high-potential copper projects in mining-friendly jurisdictions. With a commitment to sustainable development and value creation, Star Copper is positioned to support surging industrial demand to meet growing global electrification needs.
For more information visit: www.starcopper.com and to sign up for free news alerts please go to https://starcopper.com/news/news-alerts/, or follow us on X (formerly Twitter), Facebook or LinkedIn.
On Behalf of the Board of Directors
~Darryl Jones~
Darryl Jones
CEO, President & Director
Star Copper Corp.
604-788-9533
Investor Relations
Star Copper Corp.
Email: info@starcopper.com
Web: https://starcopper.com/
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. Forward-looking statements in this press release include, but are not limited to, statements regarding the terms and completion of the Offering, the use of Offering Proceeds, and the prospective nature of the Company's assets. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to market conditions and the risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
SOURCE: Star Copper Corp.
View the original press release on ACCESS Newswire
FAQ
How much did Brad Nichol sell Alpha Lithium for before joining Star Copper (STCUF)?
What is the size and structure of Star Copper's (STCUF) April 2025 private placement?
How will Star Copper (STCUF) use the $2.5 million from its 2025 flow-through financing?
What are the terms of Star Copper's (STCUF) marketing agreement with Zimtu Capital in 2025?
What warrants are included in Star Copper's (STCUF) April 2025 private placement units?
