TORONTO, Aug. 6, 2026 /PRNewswire/ -- Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has entered into a binding term sheet with Copper Giant Resources Corp. ("Copper Giant") (TSXV: CGNT) (OTCQB: LBCMF) (FRA: 29H0) under which the Company will make a strategic equity investment in Copper Giant through a non-brokered private placement (the "Copper Giant Financing"). The Copper Giant Financing will generate aggregate gross proceeds of approximately CA$31.0 million, with a lead order from the Company of CA$28.8 million to acquire a 15.6% equity interest in Copper Giant on closing. Frank Giustra and Ian Harris, President and Chief Executive Officer of Copper Giant, are also participating in the Copper Giant Financing.Copper Giant also concurrently announced today an offtake agreement with Trafigura Pte Ltd. (""Trafigura""), described in more detail below.
Serafino Iacono, Executive Chairman of Denarius Metals, commented, "We know Colombia and we know what it takes to move a project from resource to operation. Copper Giant's Mocoa Project 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."
Ian Harris, President and Chief Executive Officer of Copper Giant, commented, "This transaction changes the trajectory of Mocoa. Denarius Metals' 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."
Edmundo Vidal, Director Latin America of Trafigura, added, "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."
Highlights
-- World class deposit: Copper Giant's current focus is the Mocoa
copper-molybdenum deposit located in the Putumayo Department of southern
Colombia. With an inferred mineral resource of 1.1 billion tonnes at
0.51% CuEq* (0.31% Cu and 0.039% Mo), Mocoa hosts one of the largest
undeveloped copper-molybdenum deposits in the Americas containing 7.6
billion pounds of copper and 1.0 billion pounds of molybdenum. The Mocoa
project sits within a larger porphyry copper belt with significant
district-scale exploration potential. The deposit extends over 2.0
kilometers in strike length and remains open in multiple directions.
Recent drilling has identified new high-grade zones. The project benefits
from excellent infrastructure including road access, nearby communities
and proximity to power lines.
-- Strategic investment: Denarius Metals has agreed to subscribe for
40,000,000 common shares at CA$0.72 per share for a total investment of
CA$28.8 million. Following closing of the Copper Giant Financing, the
Company will have a 15.6% equity interest in Copper Giant. Federico
Restrepo-Solano, Chief Executive Officer of the Company, will be
appointed to Copper Giant's advisory board.
-- Shareholder alignment: Denarius Metals, Frank Giustra and Ian Harris have
each agreed to enter into two-year lock-up arrangements in connection
with the Copper Giant Financing.
-- Use of proceeds: Proceeds of the Copper Giant Financing will be directed
at the next phase of work at the Mocoa Project, beyond the Preliminary
Economic Assessment currently underway and toward a construction decision,
including resource conversion drilling, district-scale exploration, and
the geotechnical, hydrogeological and environmental programs required to
support project advancement, together with general corporate purposes.
-- External validation through long-term offtake agreement: Concurrent with
the Copper Giant Financing, Copper Giant has announced that it will grant
Trafigura the right and obligation to purchase 20% of the copper
concentrate and 20% of the molybdenum concentrate produced from the Mocoa
Project for a period of ten years from the commencement of commercial
production. The long-term offtake agreement was entered into by Copper
Giant and Trafigura on arm's-length market terms, subject to minimum
delivered volumes over the period, failing which Trafigura may elect to
extend the term.
It is expected that closing of the Copper Giant Financing will occur on or about August 21, 2026. The common shares acquired by the Company will be subject to a four-month-and-one-day hold period. On closing, Denarius Metals will become a new insider of Copper Giant pursuant to Canadian securities laws and will be subject to all insider filings.
Completion of the Copper Giant Financing is subject to the execution of definitive documentation, the respective internal and corporate approvals of each party, including any Board or shareholder approval, if required, and the approval of the TSX Venture Exchange. There can be no assurance that the Copper Giant Financing will be completed as proposed or at all.
Denarius Metals Private Placement
Denarius Metals also announced today that it will be completing a concurrent non-brokered private placement (the "Denarius Financing") with Trafigura, raising approximately CA$28.8 million in cash to be used by the Company to fund its strategic investment in Copper Giant. Pursuant to the Denarius Financing, Trafigura will acquire 67,000,000 common shares of the Company at CA$0.43 per share and 12,500,000 common share purchase warrants with an exercise price of CA$0.60 per share expiring three years after closing of the Denarius Financing. The common shares and warrants acquired by Trafigura in the Denarius Financing will be subject to a four-month-and-one-day hold period. On closing, Trafigura will own approximately 14.9% of the Company's issued and outstanding common shares, becoming a new insider of the Company pursuant to Canadian securities laws and will be subject to all insider filings.
It is expected that closing of the Denarius Financing will occur on or about August 21, 2026. Completion of the Denarius Financing is subject to the execution of definitive documentation, the respective internal and corporate approvals of each party, including any Board or shareholder approval, if required, and the approval of the Cboe Canada Exchange. There can be no assurance that the Denarius Financing will be completed as proposed or at all.
About Denarius Metals
Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of precious metals and polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada where it trades under the symbol "DMET". The Company also trades on the OTCQX Market in the United States under the symbol "DNRSF".
In Colombia, Denarius Metals is producing gold and silver in an "early production" phase at its 100%-owned Zancudo Project while it completes construction of a 1,000 tonnes per day processing plant that is expected to start producing high-grade gold-silver concentrates in the fourth quarter of 2026. The Zancudo Project is a high-grade gold-silver deposit, which includes the historic producing Independencia mine, and is located in the Cauca Belt, about 30 km southwest of Medellin.
In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a 21.8% interest in Rio Narcea Recursos, S.L. and is the operator of its Aguablanca Project, which has been recognized by the EU as a Strategic Project. The Aguablanca Project comprises a turnkey 5,000 tonnes per day processing plant and the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura. Denarius Metals also owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, approximately 88 km southwest of the Aguablanca Project, and a 100% interest in the Toral Project, a high-grade zinc-lead-silver deposit located in the Leon Province, Northern Spain.
Denarius Metals entered into a strategic collaboration in early 2026 as JV partners with ProGrowth Ltd. Company, a Saudi-based diversified group of companies, focused on the processing, smelting and commercialization of material sourced from the Company's projects and to identify, acquire, develop and operate gold and nickel mining concessions within the KSA.
Additional information on Denarius Metals can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
About Copper Giant
Copper Giant Resources Corp. is part of the Fiore Group, a private and well-established Canadian organization known for building successful, high-impact companies across the natural resource sector. Copper Giant was formed with a singular focus: to advance high-quality copper projects beyond resource definition, responsibly, efficiently, and with long-term positive impact.
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