Copper Road Announces Closing of $120,000 Private Placement

TORONTO, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Further to its news releases dated August 21 and August 26, 2024, Copper Road Resources Inc. (TSXV: CRD) ("Copper Road" or the "Company") is pleased to announce the completion of its non-brokered private placement of 6,000,000 common shares (each a “Common Share”) for gross proceeds of $120,000 (the "Offering"). The Company expects to use the proceeds from the Offering for exploration activities on the Mount Jamie property and for general working capital purposes.

The Common Shares issued pursuant to the Offering are subject to a statutory hold period of four month and one day. The Offering is subject to the final approval of the TSX Venture Exchange.

Participation by certain insiders in the Offering was considered a "related party transaction" pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with such insiders' participation in the Offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI 61-101. A material change report will be filed in connection with the participation of such insiders in the Offering less than 21 days in advance of the closing of the Offering, which the Company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner.

About Copper Road

Copper Road Resources (TSXV: CRD) is a Canadian based explorer engaged in the acquisition, exploration and evaluation of properties for the mining of precious and base metals.

For more information, please contact:

Mark Goodman, Interim President and Chief Executive Officer
Email: [e-mail]
Web: www.copperroad.ca

Cautionary Note Regarding Forward Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", “proposed”, "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.