Canadian Copper Secures $70 Million to Accelerate Multi-Metal Mining Complex Development in New Brunswick

Canadian Copper lands $70M in funding from OR Royalties and Ocean Partners to develop the Murray Brook project and Bathurst complex in New Brunswick.

By: AXL Media

Published: Apr 16, 2026, 10:01 AM EDT

Source: Information for this report was sourced from MINING.COM

Strategic Influx of Capital for the Bathurst Mining Complex

Canadian Copper has reached a definitive agreement for a funding package totaling up to C$96 million, approximately $70 million, to propel the Murray Brook project toward production. The transaction involves two primary partners, OR Royalties and Ocean Partners UK, who have committed to providing the financial foundation for the project located in New Brunswick. According to Simon Quick, the Chief Executive Officer of Canadian Copper, these proceeds are designated to cover the capital expenditure requirements outlined in the Preliminary Economic Assessment. The company expects this milestone to significantly reduce operational risk, allowing the management team to prioritize the acquisition of remaining regulatory approvals.

A Complex Financing Structure Through Streams and Debt

The financial arrangement is divided into distinct components involving equity, metal streams, and debt obligations. OR Royalties has committed $38.35 million in exchange for a 20% life of mine payable silver and gold stream specifically from the Bathurst complex. In addition to the stream, OR Royalties will subscribe for approximately 7.31 million common shares at $0.75 each, representing a 20% premium over the previous closing price. This initial injection, which includes a $6.85 million upfront payment for the metal stream, is scheduled to provide Canadian Copper with roughly $12.33 million in immediate liquidity upon the closing of the deal this month.

Leveraging Debt and Offtake Rights for Long Term Growth

Ocean Partners UK, an existing shareholder with a 17% stake in the firm, is providing up to $48 million in debt funding. This facility carries a term of 36 months and is priced at the Secured Overnight Financing Rate plus 7.75% per annum. As part of this debt commitment, Ocean Partners will secure 100% of the off-take rights for the complex, ensuring a steady destination for future production. Furthermore, Ocean Partners is slated to contribute an additional $5 million in equity, either through a direct investment or by exercising existing warrants. This comprehensive debt and equity mix is designed to provide sufficient working capital for the upcoming material project tenders.