US Copper One Plans Private Placement of C$9.75 Million to Accelerate Majuba Hill Exploration

en.Wedoany.com Reported - US Copper One Resources (CSE:CEXY) has launched a non-brokered private placement, planning to issue up to 19.5 million special warrants at C$0.50 each, for maximum proceeds of C$9.75 million (US$9.88 million).

The funds raised will be used to accelerate exploration and development activities at the Majuba Hill copper-silver-gold project in Nevada, while also supplementing working capital to advance the company's broader portfolio of critical metal projects.

Under the placement, each special warrant will automatically convert into one unit of the company, with each unit consisting of one common share and one-half warrant exercisable at C$0.62 for a period of two years.

CEO David Greenway stated that as the drilling program continues to expand the mineralized footprint at Majuba Hill, the company is now positioned to accelerate drilling progress, advance technical studies, and update resource estimates. "As the United States continues to strengthen its domestic critical minerals supply chain and ensure a stable supply of strategic metals, Majuba Hill is well positioned to help meet the country's future copper demand. This financing is a significant step toward building a top-tier North American copper company and supporting the long-term growth of critical minerals in the U.S."

Copper One recently resumed drilling at Majuba Hill, targeting areas identified through breccia mapping activities. Among them, hole MHB-37B has reached a depth of 531 meters, with drilling scheduled to continue at this hole on July 8.

Copper One Resources is focused on discovering, acquiring, and advancing high-potential copper, gold, and molybdenum projects.