Vancouver-listed Copperhead Resources, which plans to rename itself Deep Sea Minerals, on Wednesday announced a C$4-million private placement to accelerate its entry into the deep-sea critical minerals sector.

The company intends to raise up to C$4-million through a non-brokered offering of as many as ten-million shares at C$0.40 a share, with the placement expected to close on or before February 6, subject to regulatory approvals, including acceptance by the Canadian Securities Exchange.

Proceeds will be used to fund early-stage business objectives outlined in the company’s recently filed listing statement, repay an existing loan and provide general working capital as Copperhead advances its strategy to secure exposure to deep-sea mineral assets.

CEO James Deckelman said the funding would support the company’s initial execution phase as it seeks to establish a foothold in what it describes as one of the least developed, but increasingly strategic, resource frontiers.

“This private placement will enable Deep Sea to accelerate early-stage value capture and to deliver on its growth objectives,” Deckelman said. “It will secure the working capital required to apply for subsea mineral rights in priority jurisdictions and to aggressively pursue other strategic initiatives.”

The company is positioning itself to pursue opportunities linked to polymetallic nodule systems, which are known to host a range of metals considered important for defence, advanced manufacturing, clean energy infrastructure and technology supply chains.

Copperhead said it has already begun early-stage engagement with selected governments and regulatory stakeholders in the Pacific Ocean region to assess potential pathways for future exploration, subject to international, national and environmental frameworks.

The company also pointed to growing geopolitical and policy momentum around seabed minerals, particularly in the US, where recent executive actions have highlighted the strategic importance of securing access to critical minerals and reducing reliance on foreign-controlled supply chains.

Securities issued under the placement will be subject to a statutory four-month-and-one-day hold period, with the company noting that the offering is not subject to a minimum subscription level.