19.9 Million Units Qualified as Copper One Heads to Munich

Copper One Resources Corp. (CSE: CEXY) has completed the first Phase 2 hole at Majuba Hill and followed it with two filings on SEDAR+. Its November 3, 2026 prospectus supplement and voluntary annual information form bring the financing terms and company disclosures alongside tangible progress in the field.

The supplement takes the September financing through its next step. It qualifies for distribution 19,889,750 units from the special warrants sold at C$0.40 each, enabling the resulting ordinary shares to trade without a hold period. The capital was raised in September: C$7,955,900 gross, before finder's fees of C$403,072, according to the supplement. This filing qualifies the securities rather than raising additional money.

A copper project with a mining history and a fresh hole

Majuba Hill is a past-producing copper, silver and gold property in Pershing County, in north-central Nevada. The company's project page puts the land package at roughly 3,919 hectares of federal claims and private parcels. Small underground mines worked the hill from the early 1900s into the 1950s and produced about 2.8 million pounds of copper, according to the same page. The company describes the target as a porphyry, a large body of rock in which copper is spread through fractures and veins around a buried intrusion.

Phase 2 is up to 10,000 feet of core drilling, per the company's release of October 30, 2026. The first half is contracted to Evolve Exploration Nevada, with one rig planned to run two shifts around the clock. That release reported the first hole, MHB-39, finished at 1,460 feet, 210 feet past its planned depth. The geologists kept drilling because the silicification persisted, the release says; silicification means rock hardened by silica that hot fluids left behind, and it is one of the alterations that tends to sit around a copper system.

Two observations came out of the hole. Copper oxides were logged higher up the hole. Native copper, which is copper in its pure metallic form, was logged at 1,090 feet (332 metres). The company's own caveat sits right beside the second figure: "Visual identification is preliminary and should not be considered a substitute for laboratory assay results." The core now goes through logging, sampling and the laboratory, and the assays from the completed Phase 1 holes are also pending, with no date given.

Chief executive David Greenway said in the release that the secondary copper minerals and the silicification "warrant further evaluation". The October 30 release says the program is meant to support the company's objective of advancing the project toward a maiden mineral resource estimate under NI 43-101. NI 43-101 is the Canadian rule that governs how a mining company may state a resource and Majuba Hill does not yet have one. By the company's tally, more than 100 historical and modern holes have been drilled on the project.

What the September money became

The supplement names the instrument precisely. About 7.5 million of the units come from flow-through special warrants and the rest from ordinary ones. A flow-through share passes the company's Canadian exploration tax deductions to the buyer, who pays a premium for them; here the flow-through portion was sold at the same C$0.40 as the rest. Each unit is one common share and one-half of a warrant, and each whole warrant buys a further share at C$0.50 until two years after the September 29, 2026 closing, subject to the company's right under the supplement to bring the expiry forward if the shares trade at or above C$1.25 for five consecutive trading days.

The filings set out how the share count has moved since June 30.

Note 17 of the audited statements accounts for most of the 15,000,000 shares added since June 30: 14,000,000 issued on September 28 to buy Rooinek Mining Corp., the Nevada company that holds the Sport project in Utah, and 950,000 issued on the exercise of restricted share units on September 14 (200,000), October 16 (200,000) and October 23 (550,000). Once the units are issued they will be about 29.7 per cent of a company of roughly 67.1 million shares. Full exercise of the attached warrants at C$0.50 would bring in a further C$4,972,437.50. The figure is arithmetic on the supplement's terms, which say any such proceeds would go to working capital.

Funding the next stage of exploration

The September financing gives Copper One additional capital to advance its exploration plans. The November 3 prospectus supplement directs the net proceeds primarily to exploration programs and working capital, with the C$3,002,700 flow-through portion allocated to Canadian Exploration Expenses. The audited June 30, 2026 figures provide the earlier baseline: C$7,612,240 in cash, up from C$2,897,064 a year before, and C$10,891,584 in working capital. Exploration and evaluation assets, which record what the company spends on its properties, reached C$15,237,822, about C$4.5 million higher year over year. Those June balances predate the financing and subsequent spending; they are not a statement of cash available today.

For the year ended June 30, 2026, Copper One reported a net loss of C$9,083,913, including C$3,855,000 in non-cash share-based payments. Investor relations was the largest expense line at C$4,199,073. The company has continued its market-awareness spending since the year end, and The Maple Markets is among the recipients; the sponsored disclosure below explains our relationship with the company.

Management has taken a concrete financing step since year-end with the September raise. That progress sits alongside the auditor's material uncertainty over Copper One's ability to continue as a going concern: the company still needs access to funding to keep operating and advancing its projects. Note 1 sets out management's plan to use cash on hand and further financings. The raise supports that plan, but does not remove the need to manage spending and secure funding as work progresses.

The rest of the portfolio, and a Labrador purchase still pending

Majuba Hill is the flagship, and the company has three other projects in hand. At Redonda in British Columbia, a copper-molybdenum project it owns outright, the company reported on October 16, 2026 a new zone of copper sulphides about 600 metres northeast of the main zone, a result Maple covered on October 20. Redhill, also in British Columbia, is held under an option to earn up to 100 per cent. The Sport project in Utah came with Rooinek.

A fifth project is still an agreement. On October 7, 2026 the company announced that it had agreed to acquire the Sword and Gossan properties in Labrador, a proposed purchase for C$3,650,000 in cash that the company described as subject to due diligence and to board and CSE approval.

The Frankfurt listing, and the week in Europe

Copper One's shares trade on the Canadian Securities Exchange as CEXY and in Frankfurt under the symbol IW8 with WKN A42AGR, according to the boilerplate of the company's October releases; a US over-the-counter line, CEXYF, also exists. The German line matters this week for one reason. The company announced on October 28 that it would attend Market Bridge Live in London and then the Munich Mining Conference at the end of the week, where it intends to present Majuba Hill and Redonda.

Copper One heads into Munich with its first Phase 2 hole complete, a closed financing and a clearer account of its capital structure. The visual copper observations give the team a reason to pursue the next stage of evaluation. Copper prices provide a favourable backdrop: the London Metal Exchange cash settlement was US$14,449 a tonne on October 30, 2026, per Westmetall's table. Taken together, the filings support measured optimism about the company's progress. Laboratory assays remain the next substantive test; visual observations alone do not establish grade or economic viability.

Copper One presents in Munich on November 6 and 7, while the remaining holes of the 10,000-foot Phase 2 program follow MHB-39 and the company says Phase 1 assays will be announced once received, reviewed and validated.