Business
Arizona Sonoran Announces Private Sale of Shares by Tembo Capital
Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the  ...
About this update from Arizona Sonoran Copper Co., Inc.
[{"type":"text","content":"Arizona Sonoran Announces Private Sale of Shares by Tembo Capital\n\n\n .bwuline { text-decoration: underline }\n \n\n\n\n\n Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF)\n \n (“ASCU” or the “Company”) an emerging US-based copper developer and near-term producer, advises that, on July 11, 2025, Tembo Capital Elim Co-Investment LP (“Tembo”) announced the sale of 17.5 million common shares of the Company (the “Tembo Shares”) to Scotia Capital Inc. (“Scotia”) in a bought deal arrangement which, ASCU understands, closed on July 14, 2025 (the “Tembo Sale”). The Company further understands that Scotia, in turn, sold the Tembo Shares to various institutions in a secondary market transaction, also completed on July 14, 2025. As a result of the Tembo Sale, Tembo Capital’s aggregate common share ownership in ASCU was reduced from 18.8% to 9.0% and, as a result, the Investor Rights Agreement between the Company and Tembo concurrently terminated. On July 11, 2025, Tembo issued a corresponding press release on Canada Newswire (\n \n www.newswire.ca\n \n ) and is expected, in due course, to file a corresponding early warning report under the Company’s issuer profile on SEDAR+ (\n \n www.sedarplus.ca\n \n ). The Company did not receive any proceeds from the Tembo Sale. Tembo’s nominee to the ASCU Board of Directors, Mark Palmer, resigned as director of the Company effective July 15, 2025.\n \n\n Tembo separately advised ASCU of its continuing support for the Company and its development of the Cactus Project.\n \n\n\n ASCU President and CEO, George Ogilvie commented\n \n , “This sale is a win-win for ASCU and Tembo, as ASCU matures into a meaningful copper developer in the United States. Tembo’s investment in ASCU has demonstrated a significant return for its investors from both this sale and the royalty monetization by sale to Royal Gold earlier this year. For ASCU shareholders, we see this successful trade by Tembo as improving trading liquidity in the Company’s shares and, in turn, providing a point of entry for a new, broader group of what we understand to be institutional investors, to participate in the development of the Cactus Project.”\n \n\n Mr. Ogilvie continued, “Tembo has been an...