Strong Support for Placement to Fund Drilling at the Peake Project 

Copper Search Ltd (ASX: CUS) is pleased to advise that it has successfully received commitments to issue 20 million fully paid ordinary shares in the capital of the Company at an issue price of 10 cents per Share, under a private placement to sophisticated, professional and institutional investors, to raise $2 million. 

In addition to the Placement mentioned above, the Directors have subscribed for $130,000 of Shares on the same terms – Shareholder approval will be sought at a meeting of shareholders to be convened mid-year. 

Participants in the Placement will also receive one (1) unquoted option to acquire one (1) Share for every two (2) Shares issued in this placement for nil additional consideration at an exercise price of 15 cents and expiring in three years (31/7/2027). 

The proceeds of the Placement are intended to be principally applied to: 

• Peake Project Winter Drilling Program – Douglas Creek and Paradise Dam Prospects commencing next week; 
• Regional exploration of Peake Project including assessment of the gold prospectivity of the Mt Denison claim; 
• General working capital expenses; and 
• Business development. 

GBA Capital is acting as lead manager to the Offer. GBA Capital will receive 3 million Options in part consideration for capital raising services provided by GBA Capital in relation to the offer (subject to shareholder approval).