THIS NEWS RELEASE IS NOT FOR DISTRIBUTION
TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER,
BC, Jan. 12, 2022 /CNW/ - CopperCorp
Resources Inc. ("CopperCorp" or the "Company") (TSXV:
CPER) is pleased to announce that it has successfully completed its
initial public offering ("IPO"), resulting in the issuance
of 10,000,000 common shares in the capital of the Company (each, a
"Share") at a price of $0.50
per Share for total gross aggregate proceeds of $5,000,000.
Haywood Securities Inc. ("Haywood") acted
as agent for the IPO. The Company paid Haywood a cash commission of
$230,780 and a corporate finance fee,
comprised of $25,000 in cash and
50,000 Shares plus GST of $2,500.
Following the completion of the offering,
CopperCorp has 66,225,365 shares issued and outstanding.
CopperCorp's common shares were approved for listing on the TSX
Venture Exchange (the "TSXV") effective January 11, 2022 and are expected to commence
trading on the TSXV on January 14,
2022 under the trading symbol "CPER".
The proceeds will be used by the Company to fund
its exploration program on its Alpine mineral property located in
Tasmania, Australia, and for
general working capital purposes.
This news release does not constitute an offer to
sell or solicitation of an offer to buy any of the securities in
the United States. The securities have not been and will not
be registered under the United
States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may
not be offered or sold within the United
States or to a U.S. Person unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
About CopperCorp
CopperCorp is a mineral exploration company
actively focused on the exploration of copper in Tasmania, Australia. Its objective is to
explore, locate and potentially develop economic precious and base
metals properties of merit. The Company may in the future explore
for minerals outside of Australia.
The Company is the registered owner, through its wholly owned
subsidiary Georgina Resources Pty Ltd, of certain mineral
exploration licenses and claims located in Tasmania, Australia. CopperCorp is based in
Vancouver, British Columbia, and
is listed on the TSXV under the symbol "CPER".
For more information, please refer to the
Company's prospectus dated November 10,
2021, which is available under the Company's profile on
SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD
"Stephen Swatton"
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION: This news release includes certain
"forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements consist of statements
that are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the
future. Such forward-looking statements in this news release
include, but are not limited to, statements regarding the trading
of the Shares on the TSXV and the intended uses of proceeds of the
IPO. Such statements are subject to risks and uncertainties that
may cause actual results, performance or developments to differ
materially from those contained in the statements, including risks
related to factors beyond the control of the Company. No
assurance can be given that any of the events anticipated by the
forward-looking statements will occur or, if they do occur, what
benefits the Company will obtain from them. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
Neither TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
SOURCE CopperCorp Resources Inc.
