Fitzroy Banks C$1.95 Million From Warrants Before Buen Retiro Resource

Fitzroy Minerals has received approximately C$1,951,009 after holders exercised all 7,804,036 warrants and finder's warrants from its October 2024 private placement ahead of their October 16, 2026, expiry. The company plans to publish a maiden mineral resource estimate and a preliminary economic assessment for the Buen Retiro Copper Project in Chile.

Company Overview

Fitzroy Minerals Inc. (TSXV: FTZ | OTCQX: FTZFF | FSE: C3Y) explores and develops copper assets in Chile. Its 2 lead properties are the Buen Retiro Copper Project near Copiapó and the Caballos Copper Project in Valparaiso.

Every Warrant From the 2024 Placement Exercised Early

Holders of 100% of the warrants issued in Fitzroy Minerals' private placement, which closed on October 16, 2024, have exercised them ahead of the October 16, 2026, expiry date. The placement issued a total of 7,804,036 warrants and finder's warrants, each exercisable into 1 common share at C$0.25 per share for 2 years from closing.

With every warrant and finder's warrant exercised, the company has received proceeds of approximately C$1,951,009.

Chairman of Fitzroy Minerals, Campbell Smyth, credits shareholders for the early exercise and ties the extra funding to the period ahead:

"We are grateful for the strong endorsement from our shareholders, and the extra funding as we enter into a particularly catalyst-rich period for the Company."

The proceeds strengthen Fitzroy's financial position as it advances work programs at Buen Retiro and Caballos.

Next Steps

Fitzroy plans to publish a maiden mineral resource estimate and a preliminary economic assessment for the Buen Retiro Copper Project. The company also anticipates announcing the start of drilling at the Caballos Copper Project soon.