Business
Arizona Sonoran Announces Closing of C$51,750,000 Bought Deal Public Offering of Common Shares
The final short form prospectus is accessible through SEDAR+ NOT FOR DISTRIBUTION TO UNIT...
About this update from Arizona Sonoran Copper Co., Inc.
[{"type":"text","content":"Arizona Sonoran Announces Closing of C$51,750,000 Bought Deal Public Offering of Common Shares\n\n\n\n\n\n\n\n The final short form prospectus is accessible through SEDAR+\n \n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.\n \n\n\n\n\n\n Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF)\n \n (“ASCU” or the “Company”), is pleased to announce that the Company has closed its previously announced public offering of common shares of the Company (the “Common Shares”), pursuant to which the Company issued, on a bought deal basis, 25,875,000 Common Shares, including 3,375,000 Common Shares issued pursuant to the exercise in full of the over-allotment option granted to the Underwriters (as defined herein), at a price of $2.00 per Common Share, for aggregate gross proceeds of C$51,750,000 (the “Offering”).\n \n\n The Offering was completed pursuant to an underwriting agreement dated June 6, 2025 entered into among the Company and a syndicate of underwriters led by Scotia Capital Inc., as sole bookrunner, and including Canaccord Genuity Corp., Paradigm Capital Inc., Raymond James Ltd., Haywood Securities Inc., RBC Dominion Securities Inc., and Stifel Nicolaus Canada Inc. (collectively, the “Underwriters”).\n \n\n The net proceeds of the Offering will be used to exercise buy-down rights in respect of NSR royalties on the Cactus Project, to fund potential land acquisitions related to the Cactus Project, for the completion of technical and engineering studies, and for working capital and general corporate purposes, all as further described in the Prospectus (as defined herein). It is anticipated that the net proceeds from the Offering will fully fund the Company through to a final investment decision at the Cactus Project, potentially in Q4 2026.\n \n\n The Common Shares were offered by way of a short form prospectus dated June 12, 2025 (the “Prospectus”) filed in each of the provinces and territories of Canada, except Quebec, and offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and in those jurisdictions outside of Canada and...