Copper One Resources (CSE:BFG), formerly known as Giant Mining, is conducting a non-brokered private placement to raise up to C$2.5 million ($2.52 million) to fund exploration and drilling programs within the Majuba Hill Project in Nevada.
Under the LIFE offering, around 2.32 million non-flow-through (NFT) units will be issued at C$0.43 per NFT unit to raise $1 million, as well as around 3.48 million flow-through units under the same issue price to raise up to C$1.5 million.
Each NFT unit will comprise one common share and one common share purchase warrant, exercisable at C$0.70 per share within a 12-month period.
Each FT unit will comprise one share of Copper One that qualifies as a flow-through share and one warrant. The warrants will be exercisable under the same price as the NFT common share purchase warrants.
The offering is expected to close on or around 30 May 2026, subject to certain conditions including receiving necessary approvals.
In addition to exploration and drilling, funds will also be used for property payments and general working capital.
In April 2026, Copper One entered into an option agreement to acquire the Redhill Project in British Columbia, Canada. Redhill hosts volcanogenic massive sulphide mineralisation. Historical exploration identified multiple zones of hydrothermal alteration and copper mineralisation.
As part of the deal, the company will make several cash payments totalling C$665,000 and incur exploration expenditures totalling C$900,000.
Recently, the company also changed its name from Giant Mining to Copper One to better align with its strategic repositioning to enhance visibility within the copper sector.
Copper One Resources is focused on identifying, acquiring, and advancing late-stage copper, silver, and gold projects, including its flagship asset, the Majuba Hill Project, located in Nevada, US.
Write to Aaliyah Rogan at Mining.com.au
Images: Copper One Resources
