CUPANI Metals Closes 2nd Tranche Of Non-Brokered Private Placement For Proceeds Of $716,250.03
CUPANI METALS CORP. (CSE: CUPA) (OTCQB:CUPIF) is pleased to announce that it closed a second tranche of the previously announced non-brokered private placement financing for aggregate gross proceeds of C$716,250.03 comprised of the issuance of 617,143 flow-through units of the Company at $0.175 per FT Unit and 4,866,000 hard cash units at $0.125 per HC Unit.
Each FT Unit consisted of one common share and one half of one common share purchase warrant of the Company, with each whole FT Unit Warrant being exercisable at a price of $0.30 per common share at any time prior to the day that is 24 months from the date of issuance thereof, subject to the terms and provisions of an acceleration clause. The FT Shares comprising the FT Units will qualify as “flow-through shares” for purposes of the Income Tax Act (Canada). Each HC Unit consisted of one common share of the Company and one full common share purchase warrant (the “HC Unit Warrant”), each HC Unit Warrant exercisable at $0.25 at any time prior to the day that is 24 months from the date of issuance thereof, subject to the terms and provisions of an acceleration clause.
The gross proceeds from the Offering will be used by the Company on its 100% owned Blue Lake/Retty Lake exploration project exploration project as well as for general working capital purposes. The gross proceeds from the common shares comprising the FT Units will be used by the Company for “Canadian exploration expenses” that are “flow-through critical mineral mining expenditures” (as such terms are defined in the Tax Act).
The Offered Units were issued by way of a private placement pursuant to exemptions from prospectus requirements under applicable securities laws. The securities issued pursuant to the Offering are subject to resale restrictions, including a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.
In connection with the 2nd tranche of Offering, the Company paid aggregate cash finder’s fees of $4,812.50, issued 200,000 compensation HC Units at a price of $0.125 per HC Units and issued 12,500 finder warrants having the same terms as the HC Unit Warrants (exercisable at $0.25 for 24 months subject to acceleration) to certain finders. The Company also wishes to update finder fee information disclosed in its press release dated December 15, 2025 and December 16, 2025. In connection with the closing of the first tranche of the Offering, the Company issued an aggregate of 11,621,281 FT Units for gross proceeds of $2,033,724.18. In addition, with respect to the HC Units referenced in the prior press releases, the Company clarifies that it issued 528,000 HC Units at a price of $0.125 per HC Unit to certain finders and paid aggregate cash finder fees of $3,775 to certain finders.
About CUPANI
CUPANI Metals Corp. provides shareholders with long-term capital growth exposure by investing in mineral exploration properties and other assets. The Company is listed on the CSE under the symbol “CUPA”. To learn more about the Company please visit CUPANIMetals.com.
