Copper Lake Announces Non-Brokered Private Placement - Seite 2

Depending on demand and regulatory requirements, a portion of the Offering may be made in accordance with the provisions of the existing shareholder exemption (the “Existing Shareholder Exemption”) pursuant to BC Instrument 45-534.  In addition to conducting the Offering pursuant to the Existing Shareholder Exemption, the Offering will also be conducted among close personal friends and business associates of directors and officers of the Company.

The Company has set February 28, 2020 as the record date (the “Record Date”) for the purpose of determining shareholders entitled to purchase Units.  The aggregate acquisition cost to a subscriber under the Existing Shareholder Exemption cannot exceed $15,000 unless the subscriber has obtained advice from a registered investment dealer regarding the suitability of the investment.

If subscriptions received for the Offering based on all available exemptions exceed the maximum Offering amount of $132,500, subscriptions will be accepted at the discretion of the Company on a pro rata basis, such that it is possible that a subscription received from a shareholder may not be accepted by the Company if the Offering is over-subscribed.  In accordance with the Existing Shareholder Exemption, the Company confirms there is no material fact or material change related to the Company which has not been generally disclosed.

Existing shareholders of the Company are directed to contact the Company for further information concerning subscriptions for Shares pursuant to the Existing Shareholder Exemption, as follows:

Contact person:  Terrence MacDonald
Telephone:  [phone]
Email:  [e-mail]

Closing of the Offering is anticipated to occur on or before March 20, 2020, and is subject to receipt of acceptance by the TSX Venture Exchange.  All securities issuable will be subject to a four-month hold period following the closing of the Offering. A finder’s fee of cash, shares or finder’s warrants, or a combination thereof, may be paid to eligible finders with respect to any portion of the Offering that is not subscribed by existing shareholders.