Canadian Copper Inc. announced a non-brokered private placement of up to 8,333,333 units at a price of CAD 0.12 per unit for gross proceeds of CAD 999,999.96 on July 12, 2023. The transaction will include participation from Simon Quick for CAD 100,000 and insiders of the company. Each unit will consist of one common share of the company and one-half of a share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of CAD 0.18 per share at any time within 2 years from the date of issuance.

The warrants will be subjected to an accelerated exercise clause in the event the Company's share price exceeds CAD 0.30 for 10 consecutive trading days on a volume weighted average price basis. All securities to be issued in the transaction will be subject to a 4 month and one day hold period. The transaction is subject to receipt of all required regulatory and CSE Venture Exchange approvals.

The Company will pay finder's fees to arm's-length third parties consisting of a cash commission of up to 7% of the gross proceeds of the Private Placement and 7% broker warrants on the same terms as warrants issued per the Private Placement. The transaction is expected to close on or around July 31, 2023.