Business
Algo Grande Copper Secures Over $3.8 Million in Oversubscribed Subscription Receipt Financing
Vancouver, British Columbia--(Newsfile Corp. - December 15, 2025) - Kenadyr Metals Corp. (TSXV: K...
About this update from Algo Grande Copper Corp.
[{"type":"text","content":"Algo Grande Copper Secures Over $3.8 Million in Oversubscribed Subscription Receipt FinancingVancouver, British Columbia--(Newsfile Corp. - December 15, 2025) - Kenadyr Metals Corp. (TSXV: KEN.H) (OTC: KNDYF) (\"Kenadyr\" or the \"Corporation\"), to be renamed Algo Grande Copper Corp., announces that further to its news releases dated September 15, 2025, and September 26, 2025 the closing of the third and final tranche of a non-brokered private placement of 2,314,701 subscription receipts of Kenadyr (\"Subscription Receipts\") at a price of $0.375 per Subscription Receipt for gross proceeds of $868,012.88 (the \"Offering\"). The Offering was announced on August 18, 2025 in connection with Kenadyr's proposed reactivation on the TSX Venture Exchange (the \"TSXV\") and acquisition of the Adelita Project (the \"Proposed Transaction\"). Including the first and second tranche proceeds, the Offering has raised $3,824,400 in aggregate gross proceeds. Each Subscription Receipt will convert into one common share in the capital of Kenadyr (a \"Common Share\") subject to the satisfaction of certain escrow release conditions, including the completion of the Proposed Transaction and approval of the TSXV. The proceeds of the Offering will be held in escrow pending satisfaction of the escrow release conditions. When released from escrow, proceeds from the Offering will be used to fund payment obligations and exploration expenditures relating to the Adelita Project, and for general working capital purposes.In connection with the third tranche closing, Kenadyr paid cash finder's fees of $10,500 and issued 84,000 finder's warrants (the \"Finder's Warrants\") to certain eligible finders. Each Finder's Warrant is exercisable to acquire an additional Common Share at an exercise price of $0.375 for a term ending 2 months after issuance. Additionally, Kenadyr will issue 56,000 Common Shares to an arms-length finder in settlement of a cash finder's fee (the \"Finder's Shares\"). The Finder's Shares will be issued following closing of the Proposed Transaction. The proceeds from the Offering will be allocated towards exploration expenses and property payments on the Adelita Project, salaries and consulting fees, marketing and investor relations, payment of existing accounts payable, loan repayments, and other general and administrative expenses, including...