Copper Standard Resources announces that further to its press releases dated Dec 1, 2023, Dec 19, 2023 and Dec 22, 2023, the Company has closed the second and final tranche of its non-brokered private placement on Jan 19, 2024. Under the Final Tranche, the Company issued 3,388,877 units at a price of $0.45 per Unit for gross proceeds of $1,524,994.65. Pursuant to the Private Placement, the Company issued an aggregate of 11,154,964 Units at a price of $0.45 per Unit for total gross proceeds of $5,019,733.80.
Each Unit is comprised of one common share ("Share") and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase one additional Share of the Company at an exercise price of $0.90 per Share for a period of five years following the issuance of the Units.