Infinitum Copper Updates C$450,000 Private Placement

Rhea-AI Summary

Infinitum Copper Corp. has announced an amendment to the terms of its private placement, aiming to raise C$450,000 through the issue of up to 11,250,000 units at a price of C$0.04 per unit. Each unit includes one common share and one common share purchase warrant. The net proceeds will be used for establishing mining operations at the La Adelita project and general corporate purposes, with no funds allocated for investor relations activities. The offering is subject to a four-month resale restriction, with the closing date expected on or about May 31, 2024. The company also confirmed that no finder's fees will be paid in connection with the offering.

Positive

• The amendment to the private placement will provide a revenue stream for the company and valuable knowledge of the mineralized body at La Adelita.
• The net proceeds will be used for the establishment of mining operations at the La Adelita project and general corporate purposes.

Negative

• None of the proceeds will be utilized for investor relations activities and no payments will be made to non-arm's length parties of the issuer.
• The offering is subject to a four month and one-day restricted resale period from the date of the close.

Vancouver, British Columbia--(Newsfile Corp. - April 29, 2024) - Infinitum Copper Corp. (TSXV: INFI) (OTCQB: INUMF) ("Infinitum" or the "Company"). Further to the Company's news release of April 15, 2024 the Company has amended the terms of its private in light of the 1:2 roll back. The placement will now raise gross proceeds of up to C$450,000 through the issue of up to 11,250,000 units of the Company (the "Units") at a price of C$0.04 per Unit (the "Offering").

Each Unit will be comprised of one common share of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder thereof to purchase one additional Common Share at a price of C$0.06 per Common Share for a period of 36 months following the closing date of the Offering.

The Company intends to use the net proceeds of the Offering for the establishment of mining operations at the La Adelita project and general corporate purposes. It is important to note that none of the proceeds will be utilized for Investor Relations Activities, and no payments will be made to Non-Arm's Length Parties of the Issuer.

"We are looking forward to commencing mining operations at La Adelita. Not only will this provide a revenue stream for the Company, but we will also gain valuable knowledge of the mineralised body," commented Matt Hudson, CEO.

The Company also confirms no finder's fees will be paid in connection with the Offering.

All securities issued under the Offering are subject to a four month and one-day restricted resale period from the date of the close in accordance with the policies of the TSX Venture Exchange (the "TSX-V") and applicable securities laws.

The closing date of the Offering is expected to occur on or about May 31, 2024, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX-V.

On Behalf of the Board of Directors of

INFINITUM COPPER CORP.

Matt Hudson
Chief Executive Officer
matt@infinitumcopper.com

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. La Adelita is a Carbonate Replacement Deposit located in a mineralized district with a rich history. Infinitum Copper also has an option to earn 25% interest in the Hot Breccia project in the heart of the Arizona Copper Belt about 90km 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207210

FAQ

What is the purpose of the private placement amendment?

The private placement amendment aims to raise gross proceeds of up to C$450,000 through the issue of up to 11,250,000 units of the Company at a price of C$0.04 per Unit for the establishment of mining operations at the La Adelita project and general corporate purposes.

What are the components of each unit in the offering?

Each unit includes one common share of the company and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of C$0.06 per common share for a period of 36 months following the closing date of the offering.

When is the closing date of the offering expected to occur?

The closing date of the offering is expected to occur on or about May 31, 2024.

Will payments be made to non-arm's length parties of the issuer?

No payments will be made to non-arm's length parties of the issuer.