Super Copper Closes First Tranche of Non-Brokered Private Placement

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, Dec. 30, 2024 /CNW/ - SUPER COPPER CORP. (CSE: CUPR) (FSE: N60) ("Super Copper" or the "Company"), a mining exploration company focused on advancing high-potential copper assets, is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the "Offering"), raising gross proceeds of $284,954.

Under the first tranche of the Offering, the Company issued 1,238,932 units (each, a "Unit") at a price of $0.23 per Unit. Each Unit consists of one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.30 per share until December 27, 2026, subject to acceleration.

The Warrants are subject to an acceleration right held by the Company, such that if the share price closes at $0.45 or above for a period of five consecutive trading days, the Company may, at any time after such an occurrence, give written notice (via news release) to the holders of the Warrants that the Warrants will expire at 5:00 p.m. (Vancouver time) on the 30th day following the giving of notice, unless exercised by the holders prior to such date. Upon receipt of such notice, the holders of the Warrants will have 30 days to exercise their Warrants and any Warrants that remain unexercised will expire.

The Company paid cash finder's fees of $11,249 to an arm's length finder in connection with the first tranche of the Offering.

The proceeds raised from the Offering are expected to be used for marketing, investor relations, and working capital and general corporate purposes.

All securities issued in the first tranche of the Offering are subject to a four month hold period, expiring on April 28, 2025, under applicable securities laws in Canada.

About Super Copper Corp.

Super Copper is a mining exploration company focused on the acquisition, exploration and development of copper and precious metal projects. It is currently developing its joint venture in a prospective Chilean copper property located within the copper-rich Venado Formation in the province of Atacama, Northern Chile, a region with world-class infrastructure and the presence of global majors. | www.supercopper.com

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Company's securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Forward Looking Statements

This press release contains certain forward-looking statements, including statements regarding the Company's intended use of funds from the Offering, and acceleration of the expiry date of the Warrants. The words "expects," "anticipates," "believes," "intends," "plans," "will," "may," and similar expressions are intended to identify forward-looking statements.

Although the Company believes that its expectations as reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied in these statements due to various factors, including, but not limited to, changes in global copper demand, political and regulatory risks in Chile, operational and exploration risks, market conditions, and the availability of financing.

Readers are cautioned not to place undue reliance on forward-looking statements, which are made as of the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

SOURCE Super Copper Corp.

For further information please contact: Zachary Dymala-Dolesky, Chief Executive Officer, Super Copper Corp., [email protected], Tel: [phone]