Coppernico Metals Inc. Announces Strategic $15 Million Financing

VANCOUVER, BC - Coppernico Metals Inc. has announced a non-binding term sheet for a private placement financing involving a significant international mining firm ("MinerCo"), committing to a minimum total gross of C$15 million. This agreement includes MinerCo's initial acquisition of 9.9% of Coppernico's shares.

The financing, managed by 3L Capital Inc. and Beacon Securities Limited, offers equity units priced at C$0.50 each. These include a common share and a half warrant, with each full warrant enabling additional share purchases at C$0.75 for two years post-closing.

Proceeds will serve mainly for drilling in the Sombrero Project in Peru. A statutory hold applies to issued shares and warrants for four months plus one day, while MinerCo commits to a 12-month voluntary hold. The closing, scheduled for around May 15, 2024, is subject to standard conditions and a potential unit bonus if the company's shares are not listed in Canada within 90 days post-closing.