Idaho Copper Corporation announced that it has entered into a Unit Subscription Purchase Agreement with purchasers for an aggregate of units. Each unit comprised of one share of Series A Convertible Non-Voting Preferred Stock, $0.001 par value per share and 62,500 common stock purchase warrants on January 12, 2024. The rights and preferences of the Series A Preferred Stock, include without limitation, the right of each holder thereof to convert each share of Series A Preferred Stock into 50,000 shares of the Company?s common stock, par value $0.001 par value per share, as set forth in the Certificate of Designation of Series A Convertible Non-Voting Preferred Stock.

The Warrant holders have the right to exercise the Warrants for three years at an exercise price of $0.24 per share of Common Stock. The Units were offered and sold in reliance upon exemptions from the registration requirements provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and/or Rule 506(b) of Regulation D promulgated thereunder.