en.Wedoany.com Reported - Coppernico Metals (TSX:COPR) plans to raise CAD 5 million to advance drilling permits and community agreements for its Sombrero copper-gold project in Peru, paving the way for subsequent exploration activities.

The company intends to issue 14,285,714 units at CAD 0.35 per unit through a Listed Issuer Financing Exemption (LIFE) offering. Each unit consists of one common share and one warrant, with each warrant exercisable at CAD 0.50 per share for a period of 24 months from the closing date.

The proceeds from this financing will be used to support drilling permit applications and community agreement signings for the Sombrero project, driving future exploration efforts, while also supplementing general corporate operations and working capital.

Coppernico expects to complete the transaction around June 26, 2026, subject to approval from the Toronto Stock Exchange. Additionally, the company will pay finder's fees and issue compensation warrants to qualified parties who introduce investors.

Located in the Andahuaylas-Yauri metallogenic belt in Peru, the Sombrero project spans 57,000 hectares and hosts multiple copper-gold skarn, porphyry, and precious metal epithermal system targets.

Based on an NI 43-101 technical report with an effective date of April 17, 2024, the company is currently focusing on the Ccascabamba and Nioc targets, and has subsequently identified the Tipicancha target.

Coppernico Metals is a Canadian mineral exploration company dedicated to discovering and advancing large copper-gold deposits in the Americas. Its flagship Sombrero project is located in southern Peru, covering 57,000 hectares.

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