US Copper Corp. Announces Warrant Extension

Rhea-AI Summary

US Copper Corp. (USCU) Extends Expiry Date of 26.4M Share Purchase Warrants to May 20, 2024, Subject to TSX Venture Exchange Approval

Toronto, Ontario--(Newsfile Corp. - November 14, 2023) - US Copper Corp. (TSXV: USCU) (OTCQB: USCUF) (FSE: C730) ("US Copper" or the "Company") has decided to extend the expiry date of 26,400,000 share purchase warrants ("Warrants") which allow holders to purchase up to 26,400,000 common shares in the authorized share capital of the Company at an exercise price of $0.10 per share, from November 19, 2023 to May 20, 2024. All other terms of the Warrants will remain unchanged. The extension of the expiry date of the aforementioned Warrants by nine months is subject to TSX Venture Exchange approval.

About US Copper Corp

US Copper controls approximately 13 square miles of patented and unpatented federal mining claims in the Light's Creek Copper District in Plumas County, NE California; essentially, the entire District. The District contains substantial copper (silver) sulfide and copper oxide resources in three deposits – Moonlight, Superior and Engels, as well as several partially tested and untested exploration targets.

The Superior and Engels Mines operated from about 1915-1930 producing over 161 million pounds of copper from over 4 million tons of rock containing 2.2% copper with silver and gold credits.

The Moonlight Deposit was discovered and drilled by Placer Amex during the 1960's. Details of the resources on US Copper's property and the parameters used to calculate them can be found in the "Technical Report and Preliminary Economic Assessment for the Moonlight Deposit, Moonlight-Superior Copper Project, California, USA" dated April 12, 2018, on both the company's website at www.uscoppercorp.com or on www.sedar.com under the US Copper Corp profile.

For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, US Copper Corp (416) 361-2827 or email info@uscoppercorp.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 press release.

This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "hopes", "anticipates", "expected to", "plans", "planned", "intends" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/187411

FAQ

What is the news about US Copper Corp. (USCU)?

US Copper Corp. has extended the expiry date of 26,400,000 share purchase warrants, allowing holders to purchase common shares at an exercise price of $0.10 per share, subject to TSX Venture Exchange approval.

What is the new expiry date for the share purchase warrants?

The expiry date for the share purchase warrants has been extended to May 20, 2024.

How many common shares can be purchased with the warrants?

Holders can purchase up to 26,400,000 common shares in the authorized share capital of the Company.

What is the exercise price for the common shares?

The exercise price for the common shares is $0.10 per share.

What are the terms of the warrant extension?

All other terms of the warrants will remain unchanged.