Chakana Copper Corp. announced a non-brokered private placement of up to 55,000,000 units at an issue price of CAD 0.04 per Unit for gross proceeds of up to CAD 2,200,000 on October 18, 2023. Each Unit will consist of one common share and one common share purchase warrant.

Each Warrant will entitle the holder to purchase one additional Share at a price of CAD 0.06 per Share for a period of two years from closing of the Private Placement. The Company may accelerate the expiry of the Warrants in the event that for any ten consecutive trading days the closing price of the Shares is greater than CAD 0.09. The company may pay finder?s fees on some portion of the gross proceeds of the Private Placement to certain arms-length parties who assist the Company in introducing subscribers to the Private Placement.

The Private Placement is subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The transaction may include participation from the management team and returning investor Gold Fields Nazca Holdings Inc.