Copper

Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FRA: 3MX) ("Interra" or the "Company") announces its intention to consolidate its issued and outstanding common shares ("Common Shares") on the basis of one (1) post-consolidation Common Share for every nine (9) pre-consolidation Common Shares (the "Consolidation"). The Consolidation is expected to result in the number of issued and outstanding Common Shares being reduced from 75,495,903 pre-consolidation Common Shares to approximately 8,388,435 post-Consolidation Common Shares, subject to any rounding differences.

As the Consolidation will result in a more favourable share structure, Interra believes that the Consolidation will enhance the marketability of the Common Shares and facilitate additional financing to fund continued exploration of the Company's Thane Property and general corporate development. With respect to its Thane property in north-central British Columbia (the "Thane Property" or "Thane"), Interra is nearing completion of the final geological report from last year's exploration program and finalizing the planned 2022 work program. Management's 2022 objectives will be to continue building the geological database for the bulk of the unexplored project areas and to generate further high-quality targets over Thane's previously identified six highly-prospective areas, in pursuit of discovering economic bulk-tonnage copper gold resources.

"With continued strength in copper markets and results from our 2021 work program, we remain positive about the Thane Property. We substantially increased Thane's geological database, and advanced understanding of geophysical and geochemical signatures with respect to mineral potential, rock structure, and alteration on the southern portion of the property (Cathedral area). In addition, surface mapping and sampling results were correlated to geology at depth with the maiden drill program at Cathedral. Additional high priority targets have been generated for follow up at Cathedral as well as a planned maiden drill program at Gail area" stated CEO and Director Jason Nickel.

In connection with the Consolidation, no fractional shares will be issued. If, as a result of the Consolidation, the holder of post-Consolidation Common Shares would otherwise be entitled to a fraction of a share, each fractional share following conversion that is less than one-half of a share will be cancelled and each fractional share that is at least one-half of a share will be rounded up to the nearest whole number. No cash consideration will be paid in respect of fractional shares.

The Consolidation is subject to the receipt of all required regulatory approvals, including the approval of the Canadian Securities Exchange. Further details regarding the Consolidation, including the effective date and the new CUSIP and ISIN for the post-consolidation Common Shares will be announced in a subsequent news release.

The Company does not intend to change its name or seek a new stock trading symbol from the Canadian Securities Exchange in connection with the Consolidation.

The Company also intends, subject to the voluntary forfeiture of stock options, to cancel approximately 7.7 million stock options on pre-consolidation basis, representing approximately 80% of all issued and outstanding stock options, as a part of this strategic restructuring. The exercise price of any stock options not cancelled and outstanding warrants, and the number of underlying Common Shares issuable thereunder, will also be proportionately adjusted upon completion of the Consolidation.

ON BEHALF OF INTERRA COPPER CORP.

Jason Nickel, P.Eng.
Chief Executive Officer
Telephone: +1-604-754-7986
Email: CEO@interracopper.com

INVESTOR RELATIONS:
Email: invest@interracopper.com
Telephone: +1-604-588-2110
Website: https://interracopper.com

ABOUT INTERRA COPPER CORP.
Interra is a junior exploration and development company focused on creating shareholder value through the advancements of its current assets that include the Thane Property in north-central British Columbia. Utilizing its heavily experienced management team, Interra continues to source and evaluate assets to further generate shareholder value.

The Thane Property covers approximately 206 km2 (50,904 acres) and is located in the Quesnel Terrane geological belt of north-central British Columbia, midway between the previously-operated open pit Kemess Mine and the current open pit Mount Milligan mine, both two copper-gold porphyry deposits. The Thane Property includes several highly prospective mineralized areas identified to date, including the 'Cathedral Area' on which the Company's exploration is currently focused.

Forward-Looking Statements:

This press release contains "forward-looking information or statements" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to the Consolidation, the receipt of any required regulatory approvals thereto, the cancellation of stock options, and exploration plans on the Thane Property. All statements in this release, other than statements of historical facts that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties, and assumptions. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.

Click here to connect with Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FRA: 3MX) to receive an Investor Presentation.

Source

IMCX:CC
Interra Copper

Interra Copper


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Cyprium Metals Ltd $16m Placement and $10m Non-renounceable Entitlement Offer

Perth, Australia (ABN Newswire) - Cyprium Metals Ltd (ASX:CYM) is pleased to announce a capital raising via a placement and a pro rata non-renounceable rights issue to raise up to approximately $26 million before costs.

HIGHLIGHTS

- Firm commitments received for a Placement to raise $16M at 11.5 cents per share

- Additional pro rata non-renounceable entitlement offer to raise up to $10M

o 1 new share for every 8 held on the record date at 11.5 cents per share
o Offer will be open to all eligible Cyprium shareholders

- Funds raised will place Cyprium in a strong financial position to continue progressing the development of the Nifty Copper Project

- Equity raise supports recently announced $50M Offtake Prepayment Facility with Glencore

- Advanced discussions are continuing with Senior Debt counterparties

Managing Director Barry Cahill commented:

"The Board is very appreciative of the strong support shown from current shareholders and is pleased to welcome a number of new investors to the register.

Cyprium has made significant advances in the past 15 months both in terms of increasing the mineral resource estimate but also particularly in the areas of SX/EW and infrastructure refurbishment, government approvals and metallurgical optimisation.

With the completion of this capital raising, Cyprium will be able to continue to advance the senior debt financing, with the finalisation of the funding package enabling our construction plans and the production of copper metal plate on site in the second half of 2023."

The Company has received firm commitments in respect of a placement to issue approximately 139.1 million new shares (Placement Shares) at 11.5 cents each (Offer Price) to raise $16 million (Placement) from sophisticated and institutional investors.

The Company is also pleased to announce a non-renounceable pro rata entitlement offer at the Offer Price of one (1) new share for every eight (8) shares currently held by eligible shareholders to raise up to $10 million (Entitlement Offer).

The new shares to be issued under the Entitlement Offer will be issued at the same price as the Placement Shares.

Use of Funds

The Placement and Entitlement Offer proceeds will be applied as part of the funding strategy to finance the restart of the Nifty Copper Project which will aim to provide a sustainable, secure, and stable supply of copper metal at 25,000tpa.

As announced on 27 June 2022, Cyprium has entered into an exclusive Letter of Intent (LOI) with Glencore International AG for $50 million in respect of a copper cathode offtake secured prepayment facility, as part of the debt financing package for the restart of the Nifty Copper Project, which includes capital expenditure, contingencies, working capital, and financing costs. The LOI is a non-binding term sheet for both offtake arrangement and project funding and is part of the targeted AUD240 million to AUD260 million debt funding package to finance the restart of the Nifty Copper Project. The Company continues to advance discussions with senior debt providers who are undertaking due diligence activities and reviewing financing documentation.

Details of Placement

Pursuant to the terms of the Placement, the Company has agreed to issue approximately 139.1 million Placement Shares in the Company at the Offer Price of 11.5 cents per share to raise $16 million before costs, under the Company's existing placement capacity pursuant to ASX Listing Rule 7.1 (82,648,514 Placement Shares) and 7.1A (56,481,921 Placement Shares).

Subscribers for the Placement Shares will be entitled to participate in the Entitlement Offer.

Entitlement Offer

Under the Entitlement Offer, eligible shareholders will be able to subscribe for one (1) new ordinary share for every eight (8) existing fully paid ordinary shares held as at 5.00 pm (AEST time) on Friday, 8 July 2022 (Record Date) at the Offer Price.

The Offer Price represents a:

- 28.1% discount to last close on 27 June 2022;

- 19.6% discount to the 10-day VWAP up to and including 27 June 2022;

- 23.9% discount to the 15-day VWAP up to an including 27 June 2022; and

- 25.8% discount to the theoretical ex-rights issue price (TERP) to last close on 27 June 2022.

Cyprium will release a prospectus detailing the terms of the Entitlement Offer shortly, including details as to whether shareholders are eligible to participate in the Entitlement Offer and key risks (Prospectus). The Prospectus will include a personalised entitlement and acceptance form which will provide further details of how to participate in the Entitlement Offer.

Entitlements are non-renounceable and will not be tradeable on ASX or otherwise transferable. Shareholders who do not take up their entitlements will not receive any value in respect of those entitlements that they do not take up.

The Entitlement Offer will include a top up facility under which eligible shareholders who take up their full entitlement will have the opportunity to apply for additional shares from a pool of those not taken up by other eligible shareholders (Top Up Facility). In addition to the Top Up Facility, there will also be a general shortfall offer pursuant to which the Company may place any shares to non-eligible shareholders within three (3) months from the closing date of the Entitlement Offer.

Eligible shareholders should read the Prospectus carefully before making any investment decision regarding the Entitlement Offer. If you are in any doubt about the Entitlement Offer, you should consult your financial or other professional adviser.

Canaccord Genuity (Australia) Limited and Euroz Hartleys Limited are acting as Joint Lead Managers to the Placement. The fees payable to the Joint Lead Managers will be set out in further detail in the Prospectus.

Longreach Capital is acting as financial advisor and Steinepreis Paganin is acting as legal advisor to Cyprium.

*To view the capital structure post placement, please visit:
https://abnnewswire.net/lnk/009WA5D2



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

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