Copper Giant Resources Corp. (TSX Venture Exchange: CGNT) (OTCQB: LBCMF) (Frankfurt: 29H0) has signed a binding term sheet for a $30,999,996 CAD non-brokered private placement led by Denarius Metals Corp. (Cboe Canada: DMET) (OTCQX: DNRSF), alongside a separate 10-year offtake agreement with commodities trader Trafigura covering copper and molybdenum concentrate from Copper Giant’s Mocoa Project in the Putumayo department of southern Colombia. Both companies announced the transactions on August 6, 2026.

Under the financing, Copper Giant will issue 43,055,550 common shares at $0.72 CAD per share. Denarius Metals is subscribing for 40,000,000 of those shares for $28.8 million CAD, giving it a 15.6% equity interest in Copper Giant on closing. Frank Giustra, already a significant shareholder in Copper Giant, is subscribing for 2,777,775 shares, resulting in a 15.8% stake on a partially diluted basis, while Ian Harris, Copper Giant’s president and chief executive officer, is subscribing for 277,775 shares. On closing, Copper Giant will have 256,429,248 common shares issued and outstanding. Because Giustra and Harris are insiders, their participation is classified as a related-party transaction under Multilateral Instrument 61-101, though Copper Giant said it expects the participation to be exempt from that instrument’s formal-valuation and minority-approval requirements, as the value of the insiders’ subscriptions is not expected to exceed 25% of the company’s market capitalization. Denarius, Giustra and Harris have each agreed to two-year lock-up arrangements, and the financing is expected to close on or about August 21, 2026.

A separate offtake, and a related financing at Denarius

Separately, Trafigura has agreed to purchase 20% of the copper concentrate and 20% of the molybdenum concentrate produced at Mocoa for 10 years from the start of commercial production, under arm’s-length market terms that include minimum delivered volumes; Trafigura may elect to extend the term if those minimums are not met.

“This transaction changes the trajectory of Mocoa. Denarius’s investment gives us the capital to move through the PEA and accelerate the next phase toward a construction decision, while Trafigura provides a long-term route to global markets. Together, these partners bring Colombian operating experience, market reach and long-term alignment at a pivotal moment for copper and for Colombia.”
— Ian Harris, President and Chief Executive Officer, Copper Giant Resources Corp.

The Copper Giant financing runs alongside a related but separate transaction at Denarius: Trafigura has agreed to acquire 67,000,000 Denarius common shares at $0.43 CAD per share, plus 12,500,000 warrants exercisable at $0.60 CAD per share for three years, raising approximately $28.8 million CAD for Denarius and giving Trafigura an approximate 14.9% stake in the company. That financing is also expected to close on or about August 21, 2026, and its proceeds fund Denarius’s investment in Copper Giant.

Serafino Iacono, Denarius’s executive chairman, said the company was investing in Copper Giant for the long term: “We know Colombia and we know what it takes to move a project from resource to operation. Mocoa stands out for its scale, its copper-molybdenum endowment and its potential importance to Colombia’s mining future. We are investing as a long-term partner because we believe Copper Giant has the asset and the team to advance it responsibly.”

Edmundo Vidal, Trafigura’s director for Latin America, linked the offtake to Colombia’s push to develop copper as a strategic mineral: “Colombia has the geological conditions and the opportunity to become an important copper producer. We are pleased to see projects like Mocoa develop, especially given the country’s recognition of copper as a strategic mineral. Our long-term offtake at Mocoa reflects both our confidence in the project, and our strategy of working with producers to bring new supply to customers around the world.”

Colombia’s Agencia Nacional de Minería (National Mining Agency, or ANM) has designated copper among the minerals it considers strategic for the country’s energy transition, a designation Vidal referenced in his remarks.

Board changes and the Mocoa resource

Copper Giant is also appointing Carlos Augusto Suárez Rojas to its board of directors, effective on closing of the financing and subject to approval of the TSX Venture Exchange. Suárez is a Colombian attorney and political strategist and the founder and chief executive officer of Bogotá-based public affairs firm Estrategia & Poder S.A.S., which led strategy for the presidential campaign of Colombian President Abelardo De La Espriella and advises several Colombian state governments. Separately, Copper Giant is appointing Federico Restrepo-Solano, Denarius’s chief executive officer, to its advisory board. Restrepo-Solano has more than 25 years of experience in the oil and mining sectors across Latin America and leads Denarius’s operations in Colombia and Spain. The board move follows Copper Giant’s 2025 prior consultation agreement with the Inga Condagua Indigenous Nation, a prerequisite the company cleared before advancing exploration permitting at Mocoa.

Mocoa, located in Putumayo department, holds an Inferred Mineral Resource of 1,120 million tons at an average grade of 0.51% copper-equivalent, comprising 7.6 billion pounds of copper at 0.31% and 1.0 billion pounds of molybdenum at 0.039%, according to the resource estimate Copper Giant filed with Canadian securities regulators. Copper Giant holds more than 132,000 hectares of district-scale tenure around the deposit, which the company says was first identified in 1973 through a regional geochemical survey conducted by the United Nations and the Colombian government, followed by exploration campaigns from 1978 to 1983 and further drilling by B2Gold in 2008 and 2012. The mineral resource estimate was prepared by Kevin Hon and Warren Black of APEX Geoscience, with an effective date of November 18, 2025, and peer-reviewed by APEX president and chief executive Michael Dufresne; a full technical report incorporating the estimate, also naming APEX Geoscience‘s Dufresne, Black and Hon alongside Chester de Leon of Consultec Limited, carries an effective date of December 23, 2025, and was filed January 8, 2026. The estimate’s economic assumptions include copper priced at $4.00 USD per pound and molybdenum at $20.00 USD per pound, copper and molybdenum recoveries of 90% and 95%, respectively, and a cutoff grade of 0.25% copper-equivalent. Copper Giant has continued drilling at Mocoa since that estimate was filed, including a third mineralized breccia corridor confirmed below the current conceptual pit, which the company has said points to a larger resource than the current estimate captures.

Copper Giant, part of the Vancouver-based Fiore Group, has focused on advancing Mocoa toward a preliminary economic assessment and eventual construction decision. Denarius Metals, based in Toronto, is producing gold and silver at its Zancudo Project in Colombia’s Cauca Belt, near Medellín, while completing construction of a processing plant there, and holds mineral projects in Spain, including the Aguablanca project, which the European Union has designated a Strategic Project. Trafigura, founded more than three decades ago and employee-owned, trades and moves commodities including metals, energy and minerals across a network operating in more than 150 countries.

Neither company has disclosed a timeline for the preliminary economic assessment the new capital is meant to fund.

Headline photo: Copper Giant field geologists during exploration work at the Mocoa copper-molybdenum project in Putumayo. (Photo courtesy Copper Giant Resources Corp.)