US Copper Corp Proposes $200,000 Non-Brokered Private Placement

Rhea-AI Summary

US Copper Corp (TSXV: USCU) (OTCQB: USCUF) has announced a proposed non-brokered private placement to raise up to $200,000. The offering consists of up to 6,666,667 units priced at $0.03 per unit, with each unit comprising one common share and one warrant. Each whole warrant allows the purchase of one common share at $0.06 within two years after closing.

The securities issued will have a four-month hold period. The company plans to use the proceeds for general working capital. The offering is subject to regulatory and TSX Venture Exchange approvals. Investors can contact Stephen Dunn, President, CEO, and Director, for more information.

Positive

• Potential to raise up to $200,000 in additional capital
• Warrants provide potential for future funding at $0.06 per share

Negative

• Dilution of existing shareholders' ownership
• Low unit price of $0.03 may indicate financial distress
• Small offering size suggests investor interest or company's inability to secure larger funding

Toronto, Ontario--(Newsfile Corp. - August 16, 2024) - US Copper Corp (TSXV: USCU) (OTCQB: USCUF) (FSE: C73) ("US Copper" or the "Company") announces a proposed non-brokered private placement for aggregate gross proceeds of up to $200,000 comprised of up to 6,666,667 units at a price of $0.03 per unit (each such unit being comprised of one common share and one warrant) (the "Offering"). Each whole warrant will entitle the holder to purchase one common share for $0.06 at any time within 2 years after closing. All securities issued pursuant to this private placement will be subject to a four (4) month hold period. Completion of the Offering is subject to receipt of all required regulatory and TSX Venture Exchange approvals.

The Company intends to use the proceeds of the Offering for general working capital purposes.

For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, US Copper Corp (416) 361-2827 or email info@uscoppercorp.com.

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 press release.

This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "hopes", "anticipates", "expected to", "plans", "planned", "intends" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedarplus.ca. Investors are cautioned not to place undue reliance upon forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220297

FAQ

What is the size of US Copper Corp's (USCUF) proposed private placement?

US Copper Corp (USCUF) is proposing a non-brokered private placement to raise up to $200,000.

What is the price per unit in US Copper Corp's (USCUF) private placement?

The price per unit in US Copper Corp's (USCUF) private placement is $0.03.

How many units are being offered in US Copper Corp's (USCUF) private placement?

US Copper Corp (USCUF) is offering up to 6,666,667 units in its private placement.

What does each unit consist of in US Copper Corp's (USCUF) private placement?

Each unit in US Copper Corp's (USCUF) private placement consists of one common share and one warrant.

What are the terms of the warrants in US Copper Corp's (USCUF) private placement?

Each whole warrant allows the holder to purchase one common share for $0.06 within 2 years after closing.