On May 16, 2024, Coppernico Metals Inc. closed the transaction. The company has now issued 38,750,580 units at a price of CAD 0.50 per unit for the gross proceeds of CAD 19,375,290 of which Teck Resources Limited acquired 17,546,580 Units, 9,870,000 Units were issued as part of the non-brokered portion of the Offering and 11,334,000 Units were sold by a syndicate of agents. Each Warrant is exercisable to acquire an additional Share at a price of $0.75 until May 16, 2026. Teck now owns a 9.9% interest in the current outstanding Shares and also acquired 8,773,290 Warrants and 17,546,580 Special Warrants included in the Units. If the Warrants are exercised, Teck?s ownership percentage will increase to a maximum of 14.15% of outstanding Shares if other dilutive securities remained unexercised at the time. All of the securities issued pursuant to the Offering are subject to a four-month hold period in accordance with applicable Canadian securities laws. In addition, the Shares and Warrants issued to Teck are subject to a twelve-month restriction on sale. After the twelve-month period, Teck shall have the right to sell its Shares and Warrants in excess of 2% of the outstanding Shares, subject to the Company retaining a right to designate an alternative purchasers within ten business days of receipt of the notice of intention to sell from Teck.

The company has received CAD 1,720,899(1,262,480) pursuant to Regulation D and included participation from 43 investors.