Kodiak Copper (TSX-V:KDK) has announced a C$10 million ($10.06 million) private placement to fund exploration at its British Columbia copper projects.
The company enters into an agreement with Paradigm Capital as lead agent for the offering under the Listed Issuer Financing Exemption.
Financing comprises up to 6.3 million charity flow-through shares at C$1.27 each, for gross proceeds of C$8.0 million, and up to 2.4 million common shares at C$0.82 each, for C$2.0 million.
Paradigm Capital receives an over-allotment option to sell additional shares for up to C$1.5 million in extra proceeds, exercisable until 48 hours before closing.
Kodiak will use the net proceeds from the issuance of the common shares for working capital and general corporate purposes.
Flow-through share proceeds will fund eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures at the company’s British Columbia projects by 31 December 2027.
Financing is expected to close on or about 25 June 2026, subject to regulatory approvals, including TSX-V acceptance.
Kodiak Copper is a North American explorer focused on copper porphyry projects, including its flagship MPD copper‑gold project in British Columbia’s Quesnel Terrane, which delivered a maiden mineral resource estimate of seven deposits in 2025.
Write to JC Villarba at Mining.com.au
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