CopAur Announces Private Placement, Director Participation, and Gypsy Swap

Rhea-AI Summary

CopAur Minerals Inc. announces a private placement offering of 1,000,000 units at $0.50 per unit for gross proceeds of $500,000. CEO and Chairman will subscribe to the offering. Proceeds will be used for exploration at Kinsley Mountain Gold Property.

Vancouver, British Columbia--(Newsfile Corp. - August 21, 2023) - CopAur Minerals Inc. (TSXV: CPAU) (the "Company") is pleased to announce a private placement offering (the "Private Placement") of 1,000,000 units of the Company's securities ("Units") at a price of $0.50 per Unit for gross proceeds of $500,000, which will be fully subscribed by Jeremy Yaseniuk, the Company's Chief Executive Officer and Conrad Swanson, the Company's Chairman. Each Unit will consist of one common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share at an exercise price of $0.75 for a period of 24 months following the date of issuance. The terms of the Private Placement are the same as those of the Company's previous private placement completed in April 2023, under which the Company raised gross proceeds of $2,610,500 from the sale of 5,221,000 Units. The proceeds from this Private Placement will be used to continue to advance the exploration at the Company's flagship Kinsley Mountain Gold Property in Nevada.

Jeremy Yaseniuk, the Chief Executive Officer and Conrad Swanson, the Chairman of the Company plan to sell an aggregate of 1,200,000 common shares of the Company from their personal holdings through the facilities of the TSX Venture Exchange ("TSXV") on or about August 21, 2023 and will invest all of the proceeds from the share sale in the Private Placement.

Jeremy Yaseniuk, CopAur's CEO stated, "Management decided to fully subscribe to this Private Placement and price it above market price on the same terms and conditions as our previous private placement. This adds funding to our treasury for future work programs and demonstrates management's commitment to the Company and our confidence in its projects and in management's ability to effectively advance these projects and navigate in challenging markets. We look forward to seeing the results from the recently completed drilling program at Kinsley Mountain that was conducted on the two known target zones and also tested new areas of the property. It is management's hope to quickly analyze and evaluate the upcoming results when they become available and go back to Kinsley to continue to advance this exciting project."

The Private Placement will be subject to the approval of the TSXV, and all securities issued in connection with the Private Placement will be subject to a regulatory hold period of four months and one day from the closing of the Private Placement.

As a result of the proposed purchase of Units by these directors, insider participation will be in excess of 25% of the Private Placement. The issuance of securities to insiders pursuant to the Private Placement is considered to be a "related party transaction" subject to the requirements of TSXV Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that amount invested in the private placement by the insiders will not exceed 25% of the Company's market capitalization.

About CopAur Minerals Inc.

CPAU is an exploration company focused on developing projects within the emerging, mineral rich mining regions of Nevada and British Columbia. The Company is backed by a dynamic and experienced team of resource professionals advancing multiple holdings across both regions; the Kinsley Mountain Gold Property, the Bolo property and Troy Canyon property, all located in Nevada, and the Williams gold-copper property located in British Columbia.

ON BEHALF OF THE BOARD OF DIRECTORS

Jeremy Yaseniuk
Chief Executive Officer

For further information, please contact:

Jeremy Yaseniuk
CopAur Minerals Inc.
Telephone: 604-773-1467
Email: jeremyy@copaur.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward looking information under Canadian securities laws (referred to as forward-looking statements). These statements relate to future events or the Company's future performance. Forward looking statements in this news release include references to the Private Placement, including the requirement for TSXV approval and the Company's plans for using the proceeds from the Private Placement, as well as expected exploration results. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by the forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated in the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revised any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177863