Copper Fox Metals Inc. announced a non-brokered private placement to issue 8,000,000 units at a price of CAD 0.25 per unit for the gross proceeds of CAD 2,000,000 on July 17, 2023. Each Unit will consist of one common share and one-half (1/2) common share purchase warrant. Each whole Warrant will entitle the holder to purchase one Common Share for a two-year term, for an exercise price of CAD 0.35 during the first 12-month period after the closing of the Offering and CAD 0.40 during the subsequent 12-month period after the closing of the Offering.

The transaction is subject to approval of the TSX Venture Exchange. The Offering is expected to close by August 25, 2023. In accordance with applicable securities legislation, securities issued pursuant to the Offering are subject to a hold period of four months plus one day from the date of the completion of the Offering.

The Offering may include participation from one or more subscriptions by insiders, including Ernesto Echavarria, a director, insider, and a control person of the Company of a minimum of 4,800,000 Units.