Interra Copper Enhances Technical Advisory Board and Closes Oversubscribed Private Placement
CSE: IMCX WWW.INTERRACOPPERCORP.COM
INTERRA COPPER ENHANCES TECHNICAL ADVISORY BOARD
AND CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT
Not for distribution to the United States newswire services or for dissemination in the United States
July 15, 2024, VANCOUVER, British Columbia – Interra Copper Corp. (CSE: IMCX; FRA: 3MX) (“Interra”
or the “ Company”) is pleased to announce th e appointment of Mr. Tony Barresi, Ph.D., P.Geo., and
Mr. John Fleishman as technical advisors to the Company. The Company also announces that, further
to its news release dated July 4, 2024, it has closed its non-brokered private placement (the “ Private
Placement”) issuing an aggregate of 10,950,000 units of the Company. The Private Placement initially
consisted of an offering of 10,000,000 units of the Company but was increased by 950,000 units.
TECHNICAL ADVISOR APPOINTMENTS
Mr. Tony Barresi, Ph.D., P.Geo., is a seasoned exploration geologist and corporate executive who has
led successful exploration campaigns and corporate development activities for multiple junior
exploration companies during transformative periods in their history. He is the past President and
Director of QuestEx Gold & Copper L td., and Triumph Gold Corp. and he has been exploring for
mineral deposits in the Canadian Cordillera for more than twenty years. In 2006 he was awarded the
prestigious Mary-Claire Ward Geoscience Award by the Prospectors and Developers Association of
Canada (PDAC) for his Ph.D. thesis, which focuse d on the interplay between island -arc evolution and
metallogenies in British Columbia
Mr. John Fleishman started his career working at Blackdome Mining Corp. and Ashworth Explorations
Ltd. in the 1980s. He was part owner of Reliance Geological Ltd. from 1990 to 1993. From 1993 to 2006
John worked in South America, Mexico, Canada, and the USA for Canabrava Diamonds Corp. and
Southwestern Gold Corp. before staking the Blackwater Davidson property which he sold the NSR to
New Gold, now owned by Artemis Gold. Mr. Fleishman was a director of West Cirque Resources that
taken over by Kaizen Discov ery Ltd. and also served as Technical Advisor for Questex that was taken
over by Skenna Resources.
PRIVATE PLACEMENT
The Company issued an aggregate of 10,950,000 units (each, a “Unit”), of which 10,486,666 were sold
at a price of $0. 0.075 per Unit raising proceeds of $ 786,500, and 463,334 Units were issued in
satisfaction of debt. Each Unit consists of one (1) common share of the Company (a “Share”) and one-
half (1/2) of one (1) Share purchase warrant , whereby each whole Share purchase warrant (a
“Warrant”) is convertible into an additional Share (a “ Warrant Share”) at an exercise price of C$0.15
per Warrant Share. Each Warrant will expire on July 15, 2025 (the “Expiry Date”), being the date that
is one (1) year following the date of issuance. The Expiry Date is subject to acceleration in the event
the closing price of the Shares on the Canadian Securities Exchange is equal to or greater than $0.35
for a period of 15 consecutive trading days at any time after that date which is four (4) months
following the date of issuance of the Warrants, in which case the Company may reduce the exercise
period to 30 days from the date on which notice of such accelerated expiry is announced by way of
news release.
Proceeds from the Private Placement are intended for exploration activities and general working
capital purposes. The securities issued under the Private Placement will be subject to a statutory hold
period expiring November 16, 2024.
In connection with the Private Placement , one insider of the Company , Mark Cruise (Director),
purchased an aggregate of 333,333 Units for total consideration of $ 25,000. In addition, two insiders
of the Company settled outstanding debt owed by the Company for an aggregate of 463,334 Units
with a total deemed value of $34,750.05, as follows: (i) Richard Gittleman, Director of the Company ,
received 163,334 (deemed value $12,250.05), and (ii) Jason Nickel, Director of the Company, received
300,000 Units (deemed value $22,500). The participation by the insiders of the Company in the Private
Placement constitutes a "related party transaction" as defined under Multilateral Instrument 61 -101
Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on
the exemptions from the 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, as neither the fair market value of the Units
issued to the insiders , nor the consideration for/deemed value of the Units exceeds 25% of the
Company's market capitalization. The Company did not file a material change report in respect of the
related party transaction at least 21 days before the closing of the Private Placement , which the
Company deems reasonable in the circumstances in order to complete the Private Placement in an
expeditious manner.
No finder’s fees were paid in connection with the Private Placement.
The securities described herein 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. This news release shall
not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any State in which such offer, solicitation or sale would be unlawful.
STOCK OPTIONS
The Company has granted an aggregate of 3,475,000 options (the “Options”) each exercisable at $0.12
into a Share until July 12, 2029, to certain directors, officers, advisors and consultants of the Company,
in accordance with the Company’s Equity Incentive Plan . The Options are subject to vesting over a
period of 18 months.
On behalf of the Board of Interra Copper Corp.
Brian Thurston, P.Geo.
Chief Executive Officer and Director
For further information contact:
Katherine Pryde
Investor Relations
Forward Looking Information
This news release contains certain “forward -looking information” and “forward-looking statements”
(collectively “forward-looking statements”) within the meaning of applicable securities legislation.
Forward-looking statements are frequently, but not always, identified by words such as “expects”,
“anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expression s, or
statements that events, conditions, or results “will”, “may”, “could”, or” should” occur or be achieved.
All statements, other than statements of historical fact, included herein, without limitation, relating to
the expected use of proceeds from the Private Placement, are forward-looking statements. There can
be no assurance that such statements will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements. Forward-looking statements reflect
the beliefs , opinions and projections on the date the statements are made and are based upon a
number of assumptions and estimates that, while considered reasonable by Interra, a re inherently
subject to significant business, economic, competitive, political and social uncertainties and
contingencies. Many factors, both known and unknown, could cause actual results, performance or
achievements to be materially different from the re sults, performance or achievements that are or
may be expressed or implied by such forward -looking statements and the parties have made
assumptions and estimates based on or related to many of these factors. Such factors include, without
limitation, risks associated with possible accidents and other risks associated with mineral exploration
operations, the risk that the Company will encounter unanticipated geological factors, risks associated
with the interpretation of exploration results, the possibility t hat 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 ris k of political uncertainties and regulatory or legal changes that might
interfere with the Company's business and prospects. Readers should not place undue reliance on
the forward -looking statements and information contained in this news release concerning these
items. Interra does not assume any obligation to update the forward -looking statements of beliefs,
opinions, projections, or other factors, should they change, except as required by applicable securities
laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this
press release, and does not accept responsibility for the adequacy or accuracy of this release.