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Algo Grande Copper Closes Oversubscribed $6.52 Million Financing and Strengthens Board at AGM
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNIT...
About this update from Algo Grande Copper Corp.
[{"type":"text","content":"Algo Grande Copper Closes Oversubscribed $6.52 Million Financing and Strengthens Board at AGMTHIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / February 27, 2026 / Algo Grande Copper Corp. (\"Algo Grande\") (TSXV:ALGR)(OTC:KNDYF)(FRA:KM00) announces the closing of its previously announced non-brokered private placement and the election of three new directors at its Annual General Meeting held on February 25, 2026.Pursuant to its news releases dated February 11, 2026 and February 19, 2026, the Company has closed its previously announced non-brokered private placement (the \"Offering\") of common shares in the capital of the Company (the \"Shares\"), at a deemed price of $0.65 per Share. The Offering consisted of 10,037,020 Shares for aggregate gross proceeds of $6,524,063.The Offering will fund the next phase of exploration at the Company's 100%-owned Adelita Project in Sonora, Mexico, focused on a Phase II drill program. Phase I drilling at the Cerro Grande skarn intersected multiple stacked Cu-Au-Ag skarn horizons at depth, including skarn zones that had not been identified by historic drilling. The upcoming program will target expansion drilling at Cerro Grande and first-pass drilling along an approximately 6-kilometre prospective limestone corridor hosting multiple, undrilled, outcropping skarn targets. Proceeds from the Offering will also be used for additional operating costs and general working capital requirements.Commenting on the opportunity at Adelita, newly elected Director Raymond Jannas stated: \"The Adelita Project exhibits many of the characteristics we look for in emerging district-scale systems, high-grade skarn mineralization with clear geological vectors toward a deeper potential porphyry source. What excites me most is the combination of compelling geology and a focused, determined team that is executing with discipline. With capital in place and a clear exploration roadmap, Algo Grande is well positioned to unlock the broader potential of this system.\"In connection with the closing of the Offering, the Company paid certain eligible finders (each, a \"Finder\") aggregate cash commissions of $169,605.44, being equal to 7% of the aggregate gross proceeds raised from those purchasers introduced by such Finder, and issued 3...