Precious Metals

Interra Copper Corp. is pleased to announce that is has closed a non-brokered private placement issuing an aggregate of 925,000 flow-through units at a price of $0.20 per FT Unit and 110,000 non-flow-through units at a price of $0.15 per Non-FT Unit for gross proceeds of $201,500. Each FT Unit consists of one common share in the capital of the Company that qualifies as a “flow-through share” for the purposes of ...

Interra Copper Corp. (CSE: IMCX, OTCQB: IMIMF, FRA: 3MX) (" Interra " or the " Company ") is pleased to announce that is has closed a non-brokered private placement (the " Private Placement ") issuing an aggregate of 925,000 flow-through units (" FT Units ") at a price of $0.20 per FT Unit and 110,000 non-flow-through units (" Non-FT Units ") at a price of $0.15 per Non-FT Unit for gross proceeds of $201,500.

Each FT Unit consists of one common share in the capital of the Company that qualifies as a "flow-through share" for the purposes of the Income Tax Act ( Canada ) and one non-flow-through warrant (" Warrant ") exercisable at $0.30 for 24 months from the date of issuance into a common share in the capital of the Company (a " Share "). Each Non-FT Unit consists of one Share and one Warrant exercisable at $0.30 for 24 months from the date of issuance into a Share.

Proceeds from the sale of the FT Units will be used before December 31, 2022, to fund exploration programs on the Company's Thane Property in north-central British Columbia that qualify as Canadian exploration expenses and flow-through mining expenditures", as those terms are defined in the Income Tax Act (Canada), and as "BC flow-through mining expenditures" as defined the Income Tax Act (British Columbia). Proceeds from the sale of the Non-FT Units will be used for general working capital purposes.

All securities issued pursuant to the Private Placement are subject to a hold period under applicable Canadian securities laws of four months and one day from the date of closing of the Private Placement.

Greg Hawkins, Chairman of the Board of Directors of the Company, Jason Nickel, Chief Executive Officer and Director of the Company, and ACB Services Inc., a private company held by Jason Nickel, participated in the Private Placement by purchasing 250,000 FT Units, 125,000 FT Units, and 50,000 Non-FT Units, respectively. As such, the transaction constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security holders in Special Transactions (" MI 61-101 "). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Private Placement as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeded 25% of the Company's market capitalization. The Company did not file a material change report more than 21 days before the closing of the Private Placement as the details of the participation therein by related parties of the Company had not been determined until shortly prior to closing of the Private Placement.

The securities offered have not been registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any state securities laws and may not be offered or sold absent registration or compliance with an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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 km 2 (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 news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to risks incurring qualifying eligible expenditures sufficient for renouncing the flow- through expenditures, and further the exploration on the Company's Thane Property in north-central British Columbia. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities law, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. 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 Canadian Securities Exchange has not reviewed, approved or disapproved of the contents of this news release.


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Interra Copper

Interra Copper

Overview

As experts forecast an explosion in demand for copper and the reality of securing mines becomes increasingly difficult, the copper industry is on track to face a global supply gap ranging from 4.7 to 10 million tons by 2030.

Driven by the global shift towards environmental sustainability, the widespread adoption of renewable energy, electric vehicles and electric motors has catalyzed the growth in demand for copper materials used in its machinery. Overall demand for copper is estimated to increase by 12 to 15 percent. What does this mean? Canadian investors and mining companies may be sitting on a goldmine of opportunity — or, in this case, a copper mine.

Interra Copper (CSE:IMCX, OTCQB:IMIMF, FRA:3MX) is a Canadian mineral exploration and development company focused on exploring, identifying and acquiring copper and is dedicated to increasing shareholder value through the technical advancements of its assets. Led by a highly experienced management team, the company’s drilling exploration program is fully funded and will begin in July.

“We have identified high priority zones defined by IP chargeability highs with supporting copper and gold mineralization from both soil and rock samples, and we are excited to be able to test the depth potential of these targets by diamond drilling this summer,” said David McMillan, interim CEO of Interra Copper.

Producing more than 50 percent of the copper supply in Canada in 2019, British Columbia is arguably the most attractive market for copper in Canada. Interra Copper has focused all its efforts on its flagship Thane property, which is situated in the Quesnel Terrane region of British Columbia.

The Quesnel Terrane has an impressive past and planned production of 50 billion pounds of copper and 28 million ounces of gold. With relatively low exploration, the Thane property is near 16 productive and/or development stage mining projects which have historically produced significant yields. Third-party data identifying six mineralized areas suggests promising copper, gold, and silver contents in the 200 square kilometre property. The Thane property is fully owned by Interra Copper (subject to a one percent NSR).

Accelerating the process of obtaining reliable geochemical results, Interra Copper plans to utilize a portable XRF — a device that can immediately quantify and qualify elements in a sample such as copper — expediting informed planning regarding drilling expansion beyond its 8 already planned drill holes. Prioritizing in-depth analysis and thoroughness, Interra Copper will submit samples to ALS laboratories for additional multi-element and gold analysis. Streamlining its operations, Interra Copper also plans to deliver accurate sample results to investors in less than six months.

Sample 3050: 0.30 percent cu, 1.21 g/t Ag

Interra Copper’s management team is well-primed for success given their experience and accomplishments in both the mining and exploration and the corporate sector.

Independent Director Jason Nickel is a mining engineer, investor, and entrepreneur with 25 years of experience. Nickel recently led the production and development of new underground and pit operations as Mine Manager for an emerging Canadian producer.

Chairman to the Board of Directors Gregory Hawkins is a certified professional geoscientist with 52 years of experience in the industry. Hawkins was previously responsible for the identification and/or delineation of 10 mineral deposits in multiple countries with seven deposits taken to production.

Director, President and Interim CEO David McMillan has been involved in the mining and finance industry for over 40 years. McMillan has held several directors and executive roles for both public and private companies.

Interra Copper’s Company Highlights

  • Interra Copper’s flagship Thane project is located in the Quesnel Terrane region in British Columbia where past and planned production of copper is estimated at 50 billion pounds in the region.
  • The Thane project, set to begin in July, is strategically located in an area of relatively low exploration and near multiple mines which have historically produced significant yields. Third-party data identifying six mineralized areas suggests promising copper, gold, and silver contents in the 200 square kilometre property.
  • Interra Copper plans to use portable XRF machines to accelerate planning and decision-making regarding drilling sites.
  • The Thane project is fully funded and fully owned by Interra Copper (subject to a one percent NSR).
  • Interra Copper boasts an experienced management team with several decades of experience in mining, exploration and business and notable achievements in their respective industries.

Interra Copper’s Key Project

Thane Property

The flagship Thane project is located in the Quesnel Terrane, a region rich in porphyry-style deposits, in British Columbia. The 206.58 square kilometre property is near 16 productive and/or developmental stage mining projects which have historically produced significant yields.

The Thane property has a history of relatively low exploration dating back to the 1970s. To date, six mineralized areas have been identified in the Thane property with copper and gold mineralization as high as 13.9 percent, 77.8 g/t Au along with silver as high as 56.4 g/t Ag found in each area, based on data reports from previous operators.

The project is set to begin with eight drill holes that will be 2,400 metres deep with drilling expansion and exploration plans already in the works.

Interra Copper’s Management Team

Jason Nickel — Chief Executive Officer

Jason Nickel holds a degree in Applied Science in Mine Engineering from the University of British Columbia and a post graduate diploma in business administration from Simon Fraser University. Jason brings 25 years of experience in Mine Operations, Engineering, Project Development and resource company management to Interra Copper along with a decade of corporate and junior resource markets focus. He is an experienced mining engineer, investor and entrepreneur with a diverse 25-year mining background in operations, engineering, feasibility and exploration/development of venture capital projects. Most recently, Nickel was a Mine Manager for a significant Canadian emerging producer, leading the production and development of new underground and pit operations. He has provided management and consulting services to the industry since 2008.

T. Gregory Hawkins — Chairman to the Board of Directors

T. Gregory Hawkins has worked in the mining exploration and investment industry since 1969. He has been variously responsible for the identification and/or delineation of 10 mineral deposits in Canada, USA, Chile, Ghana, Mali and Zäire (DRC), with seven deposits taken to production.

Christopher O. Naas — Director, Chief Operating Officer

Christopher O. Naas has over 34 years of experience in the mineral exploration field in Canada, the USA, South America and Africa and brings extensive experience in the supervision of mineral exploration programs that have successfully developed mineral resources from grassroots prospects.

Oliver Foeste — Chief Financial Officer

Oliver Foeste is the founder and Managing Partner of Invictus Accounting Group and brings over 10 years of financial reporting and executive experience across numerous industries including junior exploration and mining companies. Previously, Mr. Foeste has held senior management and executive positions in multinational and small capitalization companies listed in Canada and the United States.

David McAdam — Chairman of Audit Committee

David McAdam has over 30 years of finance and operations experience in large and small capitalization companies, where has been the financial lead in raising over $250 million in equity and securing over $100 million in debt. He has been the financial and/or operational lead in over 90 acquisitions, including the integration of the target companies.

McAdam has been the Chief Financial Officer of several public and private companies including a number of public and private BC-based mining companies (one a Vancouver based TSX company with producing assets in South Africa and public reporting across the TSX-AIM-JSE exchanges). Other sectors include for-profit provider of English as a Second Language training to foreign students (Executive advisory and Investor Relations), a Fortune 150 waste management/recycling company (VP Ops and Director of Finance).

Samir Patel — Independent Director, Chairman of Governance Committee

Samir Patel is a securities lawyer with over 11 years of experience in securities and corporate law, particularly in relation to M&A transactions, continuous disclosure requirements, corporate governance and equity financings.

He is currently General Counsel & Corporate Secretary at First Mining Gold Corp., a gold exploration and development mining company listed on the Toronto Stock Exchange, and has been with First Mining Gold since June 2016. Prior to that, he earned a Bachelor of Laws (Honours) degree from the University Nottingham in the United Kingdom.

David McMillan — Director

David McMillan has worked in the mining and financial markets for over 40 years. Since he retired from the securities industry in 2000, he has held numerous director and executive roles in public and private companies.

Gordon Neal — Independent Director

Gordon Neal is currently President of Neal & Company Consultants, having provided more than 30 years of capital markets and corporate governance advisory services to public and private companies. Neal & Company have raised more than $700,000,000 for companies across many sectors including precious metals, oil and gas, forestry and clean tech industries. From August 2017 to March 2021, Gordon was President of New Pacific Metals Corp, with prior positions as VP Corporate Development at Silvercorp Metals, and for 9 years was VP Corporate Development at Mag Silver Corp. in the 1990s, Gordon was also the founder and president of Neal McInerney Investor Relations, which at the time, was the second largest investor relations firm in Canada.

Janet Francis — Corporate Secretary

Janet Francis has over 15 years of experience in the field of regulatory compliance and corporate governance. She has served as a director or officer of several public companies listed on the Toronto Stock Exchange, TSX Venture Exchange, and Canadian Securities Exchange in the technology, education, and mining sectors. She is the principal of a corporate secretarial firm providing services to publicly listed companies, reporting issuers, and companies seeking to go public.

 

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