Vancouver, Canada – January 17, 2024 – Coppernico Metals Inc. (“Coppernico” or the “Company”) is pleased to announce that the Company’s Board of Directors has appointed Mr. Keenan Jennings, MBA, MSc., as a Board Director effective January 13, 2024. Most recently, Mr. Jennings was Vice President, Metals Exploration at BHP during which time he led and enhanced BHP’s global exploration efforts, delivering key discoveries such as the iron oxide copper-gold Oak Dam project in South Australia and the copper porphyry Ocelot project in Arizona, USA. He has over 35 years of experience in global mineral exploration, project evaluation and acquisition/divestiture, mine development and production, plus C-Suite strategy with some of the world’s leading mining companies.
Prior to BHP, Mr. Jennings acted as Exploration Manager for China and Mongolia for Rio Tinto. During his tenure, he led the discovery and sale of a coal asset in Western Mongolia, was instrumental in establishing, in China, the first major joint venture with a state entity, Chinalco, and was responsible for establishing geoscience and resource management strategies at Oyu Tolgoi in Mongolia, one of the world’s largest copper and gold deposits, which is now in production both as an open pit and underground mine.
Through his career, Mr. Jennings has spent nearly twenty years in Chile, Argentina and Peru, which included working in various senior exploration roles with Anglo American and BHP.
Mr. Jennings began his career in Australia after obtaining a Master of Science in Geology from the University of Auckland, New Zealand, and a Master of Business Administration in Technology Management from Deakin University, Australia. He is a Fellow of the Society of Economic Geologists, a Chartered Geologist of the Geological Society and Member of the Australian Institute of Mining & Metallurgy.
“On behalf of the Board, we are honoured to welcome Keenan to Coppernico. His impressive background and experience that spans the entire value chain of the exploration and mining industry, along with his multi-disciplinary global expertise from technical to corporate governance to communities and the environment, makes him a significant addition to the Board,” commented Mr. Ivan Bebek, CEO. “As we work toward exploring our flagship Peruvian Sombrero project, Keenan’s input, strategic acumen and vast experience will enhance our ability and goal of ultimately raising our profile as a world-class copper-gold exploration company through the pursuit of mineral discoveries in South America.”
Mr. Jennings commented “I am privileged and thrilled to join the Board of Coppernico and am looking forward to working closely with the Board and the Executive team on advancing Coppernico’s strategy and portfolio. The Sombrero project represents a drill-ready, high-quality copper exploration project in Southern Peru, and I am very much looking forward to seeing this progress. Discoveries in future-facing metals are now needed more than ever. As Coppernico positions itself to contribute to this global agenda, I gratefully accept a role in building its profile and success story.”
The Company is also announcing that it has closed on a third tranche of its non-brokered private placement (the "Placement") which was initially announced on September 28, 2023. The terms and conditions of the Placement were amended on October 20, 2023, to a C$0.15 unit consisting of a common share and a share purchase warrant, exercisable at C$0.30 until the fifth anniversary of listing the common shares on a recognized stock exchange. In the third tranche the Company issued 898,333 units for gross proceeds of $134,749.95, of which directors of the Company, including Mr. Jennings, participated for 400,000 units. Such insider participation falls below the required threshold and thus is exempt from related party transaction rules. In total, the Company has issued 15,862,049 units in the Placement for total gross proceeds of $2,379,307.35.
ON BEHALF OF THE BOARD OF DIRECTORS
Chair & CEO
Coppernico is a mineral exploration company focused on creating value for shareholders and stakeholders through careful project evaluation and exploration excellence in pursuit of the discovery of world-class copper-gold deposits in South America. The Company’s management and technical teams have a successful track record of raising capital, discovery and the monetization of exploration successes. The Company is currently focused on the Sombrero project in Peru, its flagship project, and is reviewing additional premium projects in South America.
Coppernico is currently an unlisted public reporting issuer. The Company intends to be listed on a recognized stock exchange once it qualifies. For more information, please visit www.coppernicometals.com.
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