Coppernico Metals Inc. has closed a private placement raising C$995,349.60 to fund drill permitting and community agreements at its Sombrero Project in Peru.

The financing involved issuing 2,843,856 units at C$0.35 per unit. Each unit consists of one common share and one warrant exercisable at C$0.50 until August 6, 2028. The offering was placed with two subscribers, anchored by Teck Resources Limited to maintain its 9.9% non-diluted interest.

Teck acquired 1,843,856 units for C$645,349.60, bringing its holdings to 19,390,436 shares and 1,843,856 warrants. Teck’s participation secures a two-year continuation of its pro rata equity participation rights and matching rights for future treasury share purchases exceeding its current holding, subject to holding at least 8% of issued shares.

Net proceeds will advance drill permits and community agreements to support upcoming exploration, with drilling planned for the second half of 2026.

The financing follows Coppernico’s upsized Listed Issuer Financing Exemption offering in June 2026, which raised C$5,500,000 at C$0.35 per unit. Work at Sombrero includes the Nioc target area, where prior surface channel sampling returned 70.1 metres grading 0.92% copper and 0.25 g/t gold.

“We are pleased to have Teck's continued support through this financing, which follows our recently completed oversubscribed LIFE offering. We are entering into what we believe will be the most transformative chapter in our history. After years of disciplined technical work, permitting, and community engagement, Sombrero is approaching a defining moment. As key drill permits advance, we are preparing to commence drilling at Sombrero in the second half of this year, a highly compelling copper-gold opportunity with the potential to deliver both exceptional grades and a district-scale discovery.”

“Sombrero is a unique exploration asset defined by the opportunities for grade and scale. With a strengthening copper market, a supportive long-term supply-demand outlook, and multiple catalysts now converging, we believe the foundation has been laid for a period of potential meaningful value creation. We look forward to advancing the project and the potential we see at Sombrero.”

— Ivan Bebek, Chair and CEO

Read the full announcement: Coppernico Metals Secures Approximately C$1 Million Strategic Financing