Denarius Metals to invest CA$28.8M in Copper Giant Resources

Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) has signed a binding term sheet to acquire a 15.6% equity interest in Copper Giant Resources Corp. (TSXV: CGNT) (OTCQB: LBCMF) through a non-brokered private placement, according to a company statement.

Denarius Metals will subscribe for 40,000,000 common shares of Copper Giant at CA$0.72 per share, for a total investment of CA$28.8 million. The overall financing round is expected to raise approximately CA$31.0 million, with Frank Giustra and Copper Giant President and CEO Ian Harris also participating. All parties have agreed to two-year lock-up arrangements.

The proceeds will be directed toward advancing Copper Giant's Mocoa copper-molybdenum deposit in Colombia's Putumayo Department, including resource conversion drilling, exploration, and environmental and geotechnical programs needed to support a future construction decision. Federico Restrepo-Solano, CEO of Denarius Metals, will join Copper Giant's advisory board upon closing.

The Mocoa deposit holds an inferred mineral resource of 1.1 billion tonnes at 0.51% copper equivalent, containing an estimated 7.6 billion pounds of copper and 1.0 billion pounds of molybdenum.

Concurrent with the financing, Copper Giant announced a ten-year offtake agreement with Trafigura Pte Ltd., granting Trafigura the right to purchase 20% of copper concentrate and 20% of molybdenum concentrate produced at Mocoa from the start of commercial production.

To fund its investment, Denarius Metals will raise approximately CA$28.8 million through a separate private placement with Trafigura, issuing 67,000,000 common shares at CA$0.43 per share and 12,500,000 warrants exercisable at CA$0.60 per share for three years. On closing, Trafigura will hold approximately 14.9% of Denarius Metals' issued shares.

Both transactions are expected to close on or about August 21, 2026, subject to regulatory and exchange approvals, including from the TSX Venture Exchange and Cboe Canada Exchange.

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