Toronto, June 17, 2025 – Canadian Copper Inc. (CSE:CCI) (“Canadian Copper” or the “Company”) announces that it has secured a financial commitment (“Backstop Financing”) from Ocean Partners UK Ltd. (“Ocean Partners”) totaling C$6.0 million. The Backstop Financing will be in the form of either a market related equity subscription or debt or some combination thereof and based on the Company’s overall financing requirements at the time of accessing the Backstop Financing. Proceeds from this transaction, if accessed by Company, will be used to satisfy the outstanding acquisition requirements of the Caribou Process Plant Complex announced October 28, 2024 (“Caribou Acquisition”). Terms of the Backstop Financing will be negotiated based on reasonable commercial transactions, agreed upon by both parties, subject to customary approvals, conditions and documentation.
Next Steps
The Company published its Combined Strategy PEA last month and is currently working with capital providers to finance the Caribou Acquisition. This Backstop Financing provided by Ocean Partners helps to secure the Caribou Acquisition, while the Company continues these discussions with several interested financing groups.
Canadian Copper continues to collaborate with the New Brunswick Government and FTI Consulting Canada Inc. (“FTI”), who acts as both the court appointed Monitor and Receiver under the Companies’ Creditor Arrangement Act (“CCAA”). As a result of recent discussions, the Company, the New Brunswick Government, and FTI, have agreed to extend the transaction closing date and site turnover to October 1st, 2025.
About Canadian Copper Inc.
Canadian Copper is a Canadian-based mineral exploration company with a copper and base metals portfolio of historical resources and grassroots projects. The Company is focused on the prolific Bathurst Mining Camp (BMC) of New Brunswick, Canada. There are currently 104,981,836 shares issued and outstanding in the Company.