Copper Lake Resources Ltd. intends to raise up to C$5,000,000 through a non-brokered private placement to fund exploration work at its Marshall Lake project in Ontario and support general working capital.

The proposed financing will consist of up to 33,333,333 units priced at C$0.15 each. Every unit contains one common share and one purchase warrant. Each warrant allows the holder to buy an additional common share at an exercise price of C$0.20 for a period of 24 months from the closing date.

The warrants are subject to an accelerated expiry clause. If the weighted average closing price of the common shares on the TSX Venture Exchange exceeds C$0.40 for 15 consecutive trading days after the initial four-month and one-day hold period expires, the company can accelerate the warrant expiry date to 30 days following an announcement.

Copper Lake expects the private placement to close on or about September 29, 2026. Closing remains conditional upon receiving all necessary regulatory approvals, including acceptance from the TSX Venture Exchange. All securities issued under the offering will carry a statutory hold period of four months and one day from the issue date. Finder's fees consisting of cash and warrants may be paid to qualified individuals under the same terms as the offering warrants.

The company holds a 79.45% interest in the joint-ventured Marshall Lake property, which is supplemented by 100% ownership of the adjacent Sollas Lake and Summit Lake properties. Exploration planning across the land package follows exploration agreements signed with the Aroland and Animbiigoo Zaagi'igan Anishinaabek First Nations, establishing a collaborative framework for field programs within their traditional territories.

Read the full announcement: Copper Lake Announces Non-Brokered Private Placement