04:53 PM EDT, 09/15/2025 (MT Newswires) -- King Copper Discovery Corp. ( TBXXF ) said Monday that it has closed a $15 million non-brokered private placement involving the issuance of roughly 65.2 million shares for $0.23 each.

The company intends to use the gross proceeds to advance exploration, including diamond drilling of its flagship Colquemayo copper-gold project, and for working capital purposes.

A strategic investor participated in the placement and holds about 9.99% of King Copper on an undiluted basis. King Copper and the investor entered into an investor rights agreement whereby the investor was granted certain rights, subject to the investor maintaining certain ownership thresholds in the company.

Shares of King Copper were seen last up $0.01, or 2.41%, to $0.425 on the TSXV. They touched a 52 week high of $0.43.