King Copper Discovery Corp. Announces Closing of $15 Million Financing

King Copper Discovery Corp. Announces Closing of $15 Million Financing

Benzinga
September 15, 2025

VANCOUVER, British Columbia, Sept. 15, 2025 (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 offering (the "Financing") for aggregate gross proceeds of approximately $15 million from the issuance of 65,217,390 common shares in the capital of the Company (the "Shares") at a price of $0.23 per Share.

The net proceeds of the Financing will be used to advance exploration, including diamond drilling of the Company's flagship Colquemayo copper-gold project and for working capital purposes.

A strategic investor (the "Investor") participated in the Financing and holds approximately 9.99% ownership interest in King Copper on an undiluted basis. King Copper and the Investor entered into an investor rights agreement whereby the Investor was granted certain rights, subject to the Investor maintaining certain ownership thresholds in the Company, including (i) the right to participate in future equity financings and top-up its holdings in the event of dilutive issuances in order to maintain its pro rata ownership in the Company at the time of such financing or to acquire up to a 9.99% ownership interest, on a partially‐diluted basis, in the Company; and (ii) the right (which the Investor has no present intention of exercising) to nominate one person (and in the case of an increase in the size of the board of directors to eight or more directors, two persons) to the board of directors of King Copper.

The subscribers in the Financing included ...

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