Atacama Copper Corporation announced a non-brokered private placement and will issue 1,666,667 common shares at an issue price of CAD 0.18 per common share for gross proceeds of up to CAD 300,000 on May 5, 2023. Certain insiders of the company will participate in the transaction. Finder's fee or similar payment in the form of cash, securities or an interest in assets will be paid by the company in connection with the offering.

The company expects to close the offering on or about May 15, 2023. Completion of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange. The TSX Venture Exchange has not approved the offering price, and this remains subject to change.

The common shares will be subject to a statutory hold period of four months plus one day from the closing date, in accordance with applicable securities legislation.