en.Wedoany.com Reported - Kodiak Copper (TSX-V:KDK) has announced a C$10 million (approximately US$10.06 million) private placement plan, with the proceeds to be used to advance exploration at its copper mine project in British Columbia.

The company has entered into an agreement with Paradigm Capital to act as lead agent for the offering. The financing will be conducted under the listed issuer financing exemption.

The financing includes the issuance of up to 6.3 million charity flow-through shares at a price of C$1.27 per share, expected to raise C$8 million, and up to 2.4 million common shares at a price of C$0.82 per share, expected to raise C$2 million.

Paradigm Capital has been granted an over-allotment option to sell additional shares, raising up to an additional C$1.5 million. The option can be exercised within 48 hours prior to the closing of the transaction.

Kodiak stated that the net proceeds from the issuance of common shares will be used for working capital and general corporate purposes.

Proceeds from the flow-through share issuance will be used to fund eligible Canadian exploration expenses. These expenses, incurred before December 31, 2027, qualify as flow-through expenditures for critical minerals mining expenditures in the company's British Columbia projects.

The financing is expected to close around June 25, 2026, and is subject to regulatory approvals, including acceptance by the TSX Venture Exchange (TSX-V).

Kodiak Copper is a North American exploration company focused on copper porphyry projects, with its flagship asset being the MPD copper-gold project located in the Quesnel Terrane of British Columbia. The project released its first mineral resource estimate covering seven deposits in 2025.

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