Copper Lake plans $5M private placement for mineral exploration

Copper Lake Resources Ltd. (TSXV: CPL) announced plans for a non-brokered private placement to raise up to $5,000,000 through the issuance of up to 33,333,333 units at $0.15 per unit.

Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional share at $0.20, exercisable for 24 months from the closing date.

The warrants include an accelerated expiry clause. If the weighted average closing price of the common shares on the TSX Venture Exchange exceeds $0.40 for 15 consecutive trading days after the four-month and one day hold period, the company may accelerate the warrant expiry to 30 days following a press release announcement of that acceleration.

All securities issued will be subject to a hold period of four months and one day from the date of issuance. The placement requires approval from the TSX Venture Exchange and other applicable regulators. The company may also pay finders' fees in cash and warrants to qualified individuals under the same warrant terms.

The financing is expected to close on or about September 29, 2026. Proceeds will be directed toward exploration at the company's Marshall Lake project in Ontario and for general working capital purposes.

Copper Lake is a Canadian mineral exploration company with interests in two Ontario projects, including the Marshall Lake copper, zinc, silver, and gold project and the Norton Lake nickel, copper, cobalt, and palladium property.

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