Cupani Metals Secures $1.6M for Quebec Project, Insiders Signal Strong Confidence

TORONTO, ON – February 09, 2026 – In a move that signals both strategic focus and internal conviction, Cupani Metals Corp. (CSE: CUPA) (OTCQB: CUPIF) has successfully closed a significant private placement, raising gross proceeds of $1,617,781.25. The financing is earmarked to advance the company's promising mineral exploration project in Quebec and is notably bolstered by substantial participation from its own senior leadership.

The junior exploration company announced today the closing of the third tranche of its non-brokered private placement, which involved issuing 12,942,250 hard cash units at a price of $0.125 per unit. Each unit consists of one common share and one full common share purchase warrant, exercisable at $0.25 for the next 24 months. This infusion of capital comes at a pivotal moment as the company sharpens its focus on its core exploration assets.

A Vote of Confidence From the Top

Perhaps the most compelling aspect of the financing for market observers is the significant insider participation. Director and CEO Brian Bosse, along with Independent Director Elliot Beutel, each indirectly subscribed for $50,000, collectively acquiring 800,000 units. In the high-risk, high-reward world of junior mining, such a direct financial commitment from leadership is often interpreted by investors as a powerful vote of confidence in a company’s assets and forward-looking strategy.

This investment constitutes a “related party transaction” under Canadian securities regulations, specifically Multilateral Instrument 61-101. However, Cupani Metals stated the transaction is exempt from formal valuation and minority shareholder approval requirements. These exemptions are applicable because the company’s securities are not listed on exchanges that mandate these steps, and the value of the insider transaction did not exceed 25% of the company's market capitalization, which currently stands at approximately C$17.14 million.

By navigating these regulations, the company has allowed its leadership to align their financial interests directly with those of shareholders without triggering more onerous procedural requirements, reinforcing the message that management is firmly behind the company's exploration plans.

Sharpening Focus on Core Exploration Assets

The successful financing coincides with a deliberate strategic realignment for Cupani Metals. Late last year, on December 31, 2025, the company completed the divestiture of its non-core subsidiary, Capitalight Research Inc., a subscription-based commodity and market research firm. This move marks the final step in a transformation that began with a name change from IC Capitalight Corp. on December 16, 2024, signaling a definitive pivot to a pure-play mineral exploration model.

By shedding the research business, Cupani has streamlined its operations, allowing management to dedicate its full attention and resources to its primary mission: discovering and developing mineral deposits. The divestiture was structured shrewdly; while the purchaser assumed all working capital responsibilities, Cupani will continue to receive a portion of the revenues generated by Capitalight Research until the end of 2030. This provides a potential ongoing revenue stream to support operations without the corresponding overhead, a move that provides both strategic focus and a degree of financial cushioning.

Powering the Blue Lake/Retty Lake Project

The newly raised capital will primarily be deployed at the company's 100% owned Blue Lake/Retty Lake exploration project in northern Quebec. The vast 525.64 km² property is located in a region known for magmatic copper-nickel-platinum group element (Cu-Ni-PGE) mineralization.

Historical work in the area during the late 1980s delineated a resource, but the company is careful to note this estimate is not compliant with current NI 43-101 standards and requires modern verification drilling. Cupani's recent efforts have already begun to validate the project's potential. Fieldwork in 2024 and 2025 led to a new geological interpretation and the discovery of three new mineralized zones—Cancun, Pogo Northwest, and Retty Lake Northwest—within a promising 12-kilometer-long corridor. One grab sample from the Cancun zone returned a notable 1.93 g/t gold, indicating potential for precious metals alongside the target base metals.

With a four-season field camp already established and winterized, and high-priority drilling targets identified through ground gravity surveys, Cupani is now equipped with the necessary funding to launch its planned drill program. This program will be the first major test of the company’s new geological model and will be critical in its effort to define a modern, compliant mineral resource.

Navigating a Resurgent Junior Mining Market

Cupani's successful fundraising effort is emblematic of a broader trend in the junior resource sector. After a difficult period in 2024, financing for junior miners saw a significant rebound in 2025, a trend that appears to be continuing. However, the market remains discerning, favoring companies with clear strategies, promising assets, and strong management teams.

Cupani’s stock, like many of its peers, has experienced volatility. While its shares on the Canadian Securities Exchange saw a modest 4.17% gain on the day of the announcement, the stock has seen a decline in recent weeks. Despite this, at least one analyst has a "Buy" rating on the stock with a C$0.70 price target, suggesting a belief in significant long-term upside. By securing this funding, divesting a non-core asset, and demonstrating strong insider support, Cupani Metals has crafted a compelling narrative and fortified its position to execute on its critical exploration objectives in the months ahead.