Infinitum Copper Announces up to C$1,000,000 Private Placement

Rhea-AI Summary

Infinitum Copper Corp. (TSXV:INFI)(OTCQB:INUMF) plans to raise up to C$1,000,000 through a non-brokered private placement of 5,000,000 units priced at C$0.20 per unit. Each unit comprises one common share and a warrant, allowing the purchase of an additional share at C$0.45 for two years. Funds will support exploration projects in La Adelita, Mexico, and Hot Breccia, Arizona. The offering is subject to TSX-V approval and involves potential finder's fees. Forward-looking statements indicate risks inherent to the company's business.

Positive

• Plans to raise up to C$1,000,000, strengthening cash position.
• Funding will be directed towards exploration of high-potential projects.
• La Adelita project shows numerous high-grade copper and gold targets.

Negative

• Offering completion is uncertain and subject to TSX-V approval.
• Potential dilution of existing shareholder value through new unit offerings.

VANCOUVER, BC / ACCESSWIRE / June 27, 2022 / Infinitum Copper Corp. (TSXV:INFI)(OTCQB:INUMF) ("Infinitum" or the "Company") is pleased to announce that it intends to raise up to C$1,000,000 by way of a non-brokered private placement financing consisting of up to 5,000,000 units (the "Units") at a price of C$0.20 per Unit, for gross proceeds of up to C$1,000,000 (the "Offering"). Each Unit will consist of one common share of the Company (each, a "Common Share") and one transferable Common Share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one additional Common Share for a period of two (2) years from closing at a price of C$0.45.

"Our initial exploration efforts at La Adelita project in Sonora Mexico have helped us validate the project as a true district scale opportunity with numerous high-grade copper and gold targets. This financing will allow us to expand our plan and pursue some of these new targets. At our recently acquired Hot Breccia project in Arizona we will continue to move aggressively to get the project drill ready" stated Steve Robertson, CEO of Infinitum Copper.

Proceeds from the Offering will be used to fund exploration at La Adelita project in Sonora State, Mexico and the Hot Breccia project in Arizona State, USA, and for general corporate purposes. The securities issued in connection with the Offering, including any Common Shares issued upon exercise of the Warrants and Compensation Warrants, will be subject to a four month restricted resale period and applicable securities legislation hold periods outside of Canada from the closing date.

A finder's fee may be paid in connection with the placement to finders as determined by mutual agreement between the Company and the finders and subject to TSX Venture Exchange ("TSX V") approval. The finder's fee will consist of cash equal to seven percent (7.0%) of the Units sold to investors introduced by such finder, and nontransferable share purchase warrants equal to seven percent (7.0%) of such Units sold to investors ("Compensation Warrants"). The Compensation Warrants will permit the purchase of one Common Share for a period of two (2) years from closing at a price of C$0.20.

Completion of the Offering will be subject to all necessary approvals, including the approval of the TSX-V. There can be no assurance that the Offering will be completed as proposed or at all.

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For more information, please contact Anna Okopnaya, Manager of Investor Relations for Infinitum Copper at anna@infinitumcopper.com, +525534417980, or Steve Robertson, President and CEO of Infinitum Copper, at steve@infinitumcopper.com, (604) 409-3917.

On Behalf of the Board of Directors of

INFINITUM COPPER CORP.

Steve Robertson
Chief Executive Officer

Neither 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.

About Infinitum Copper

Backed by a strong team of industry veterans, Infinitum Copper is advancing La Adelita project, where the Company has an option to earn an 80% interest. The high-grade copper-silver-gold La Adelita Project is located in Sonora and Sinaloa states in Mexico and is subject to a 2% NSR. La Adelita is a high-grade copper-gold-silver, Carbonate Replacement Deposit located in a mineralized district with a rich history. Infinitum also has an option to earn 100% interest in the Hot Breccia project in the heart of the Arizona Copper Belt, about 90 km north of Tucson AZ. The Hot Breccia project is prospective for porphyry copper and copper skarn mineralization.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking information" within the meaning of Canadian securities legislation. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, are inherently subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated with the Company's business, as described in the Company's Filing Statement dated February 11, 2022. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

SOURCE: Infinitum Copper

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https://www.accesswire.com/706567/Infinitum-Copper-Announces-up-to-C1000000-Private-Placement

FAQ

What is Infinitum Copper's latest funding announcement for June 2022?

Infinitum Copper announced a plan to raise up to C$1,000,000 through a non-brokered private placement of 5,000,000 units at C$0.20 per unit.

How will the funds from the private placement be used by Infinitum Copper?

The proceeds will fund exploration at the La Adelita project in Mexico and the Hot Breccia project in Arizona.

What is the price and terms of the warrants associated with the Infinitum Copper units?

Each warrant allows the holder to purchase one additional common share at a price of C$0.45 for two years.

What approvals are needed for Infinitum Copper's private placement to proceed?

Completion of the offering is subject to all necessary approvals, including the approval of the TSX Venture Exchange.