Doré Copper Announces Closing Of Rights Offering

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TORONTO, Jan. 02, 2024 (GLOBE NEWSWIRE) -- Doré Copper Mining Corp. (the "Corporation" or "Doré Copper") (TSXV:DCMC; OTCQX:DRCMF; FRA:DCM) is pleased to announce that, on December 29, 2023, it closed its previously announced rights offering (the "Rights Offering") to the holders of common shares in the capital of the Corporation ("Common Shares") at the close of business (Toronto time) on November 28, 2023. The Rights Offering expired at 5:00 p.m. (Toronto time) on December 22, 2023 (the "Expiry Date"). The Corporation issued 33,000,000 Common Shares at a subscription price of $0.12 per Common Share for aggregate gross proceeds of $3,960,000. The net proceeds of the Rights Offering will be used for exploration and development activities and for working capital and general corporate purposes.

The Corporation issued a total of 11,463,135 Common Shares under the basic subscription privilege and 3,440,126 Common Shares under the additional subscription privilege. Ocean Partners UK Limited ("Ocean Partners"), together with its affiliate, Ocean Partners USA Inc., acquired a total of 6,472,931 Common Shares under their basic subscription privilege and nil Common Shares under their additional subscription privilege. Funds managed by Equinox Partners Investment Management, LLC ("Equinox" and together with Ocean Partners, the "Standby Purchasers") acquired a total of 3,202,719 Common Shares under their basic subscription privilege and 3,331,018 Common Shares under their additional subscription privilege in lieu of Common Shares available to a certain fund managed by Equinox under its basic subscription privilege. The Standby Purchasers collectively subscribed for an additional 18,096,739 Common Shares pursuant to their standby commitment agreements, with each Standby Purchaser acquiring 50% of such Common Shares.

To the knowledge of the Corporation, after reasonable inquiry, no person that was not an insider of Doré Copper before the distribution under the Rights Offering became an insider as a result of the distribution under the Rights Offering. To the knowledge of the Corporation, after reasonable inquiry, directors, officers and other insiders of the Corporation before the distribution under the Rights Offering, which includes the Standby Purchasers, as a group, acquired 10,110,832 Common Shares under the basic subscription privilege and 3,331,018 Common Shares under the additional subscription privilege for an aggregate of 13,441,850 Common Shares acquired under the Rights Offering, representing total subscription proceeds of $1,613,022.