CopperCorp Resources Inc. (TSX-V: CPER) (OTCQB: CPCPF) (FSE: NU0) is pleased to announce that it has closed a first tranche of its upsized non-brokered private placement raising gross proceeds of $1,575,319.

The second tranche of the Offering will consist of an additional 10,882,352 Units (as defined below) being purchased by a strategic investor and Crescat Capital LLC for combined proceeds to the Company of C$2,500,319. Crescat is purchasing the Units pursuant to an investment agreement with the Company and, on closing of the final tranche of the Offering, will hold approximately 9.3% of the issued shares of Coppercorp.

Tranche one of the Offering consists of 18,533,163 units at a price of $0.085 per unit. Each Unit is comprised of one common share in the capital of the Company and one common share purchase warrant. Each Warrant entitles the holder to purchase one additional Share at a price of $0.13 per Share for a period of two years from closing of the Offering.

The Company intends to use the proceeds of the Offering for exploration drilling and development of the Company’s Hydes and Jukes properties, located in western Tasmania, Australia and for general working capital.

In connection with the closing of the Offering, CopperCorp paid finder’s fees totaling C$59,974.50 and issued a total of 705,582 finder’s warrants (under the same terms as the Warrants). The Offering is subject to all necessary regulatory approvals, including the final approval of the TSX Venture Exchange. The securities issued under the Offering will be subject to a hold period under applicable securities laws in Canada expiring four months and one day from the closing date of the Offering.

The Offering included participation by insiders of the Company in the aggregate amount of 352,941 Units. The participation in the Offering by these insiders constitutes a related party transaction within the meaning of Policy 5.9 of the TSX Venture Exchange and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). In connection with the participation by the insiders, the Company relied upon the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value (as determined under MI 61-101) of the participation did not exceed twenty-five percent of the market capitalization of the Company (as determined under MI 61-101).

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be 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 within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About CopperCorp

CopperCorp is a TSX.V listed exploration company focused on the exploration and development of its Skyline, and AMC copper-gold-REE projects in western Tasmania.