King Copper Discovery Announces Closing of $15 Million Financing

Rhea-AI Summary

King Copper Discovery (TSXV:KCP; OTCQB:TBXXF) closed a non-brokered private placement of 25,000,000 Units at $0.60 per Unit, generating aggregate gross proceeds of $15,000,000. Each Unit includes one common share and one warrant exercisable at $0.98 for two years. Issued securities are subject to a statutory four-month hold. Insiders subscribed for 150,000 Units for $90,000; the company relied on exemptions under MI 61-101 for related-party participation. Net proceeds will be used for general working capital and ongoing assessment of multiple copper exploration and development opportunities in South America.

Positive

• Raised $15.0M in growth capital
• Financing includes warrants at $0.98 exercisable for 2 years
• Proceeds designated for copper exploration and working capital in South America

Negative

• Issued 25,000,000 new Units, creating immediate shareholder dilution
• Units are under a statutory four-month hold, restricting immediate liquidity
• Insider subscriptions (150,000 Units, $90,000) constituted related-party transactions

News Market Reaction

+10.59%

1 alert

+10.59% News Effect

On the day this news was published, TBXXF gained 10.59%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Jan. 19, 2026 (GLOBE NEWSWIRE) -- King Copper Discovery Corp. (“King Copper”, or the “Company”; KCP-TSXV, TBXXF-OTCQB, 3RI-FSE) is pleased to announce that it has closed its previously announced non-brokered private placement financing of 25 million units (the “Units”) at a price of $0.60 per Unit with each Unit consisting of one common share in the capital of the Company and one common share purchase warrant, exercisable at a price of $0.98 for two years (the “Financing”). The Financing resulted in the Company raising aggregate gross proceeds of $15,000,000.

All securities issued in connection with the Financing will be subject to a statutory four-month hold period in accordance with applicable securities law.

The subscribers in the Financing included a director as well as one corporate subscriber controlled by a director of the Company (the “Insiders”), who subscribed for an aggregate of 150,000 Units for aggregate gross proceeds of $90,000 to the Company. The issuance of Units to the Insiders constitute “related party transactions” as defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from the formal valuation and minority approval requirement pursuant to subsection 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, for the Insiders’ participation in the Financing, as the value of the Units subscribed for do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101.

The net proceeds from the Financing will be used for general working capital and for the ongoing assessment and evaluation of multiple copper exploration and development opportunities within South America.

On Behalf of the Company,

Jonathan Richards, Chief Executive Officer

Website: kingcopperdiscovery.com
Address: #1212 – 1030 West Georgia St, Vancouver, BC V6E 3M5.

For Investor Relations enquiries, please contact +1 604 229 5208 or via info@kingcopperdiscovery.com.

Forward Looking Statement: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements, including the expected use of proceeds from the Financing.

Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the receipt of regulatory approvals, market prices, continued availability of capital and financing, and general economic, market or business conditions, as well as legal, social, and economic conditions in Argentina and Peru, where the Company’s mineral exploration properties are located. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FAQ

What did King Copper (TBXXF) announce on January 19, 2026?

King Copper closed a non-brokered private placement of 25,000,000 Units at $0.60 for gross proceeds of $15M, with warrants exercisable at $0.98 for two years.

How many warrants were issued and what is the exercise price for TBXXF units?

Each Unit included one warrant; all warrants are exercisable at $0.98 for a two-year period.

How will King Copper (TBXXF) use the $15 million raised?

Net proceeds will be used for general working capital and ongoing assessment and evaluation of multiple copper exploration and development opportunities in South America.

Did any insiders participate in the King Copper (TBXXF) financing?

Yes; a director and a director‑controlled corporate subscriber together bought 150,000 Units for $90,000, treated as related‑party transactions under MI 61-101 with available exemptions.

When can investors trade the securities issued in the TBXXF financing?

All securities issued are subject to a statutory four-month hold period under applicable securities law.