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Arizona Sonoran Copper Announces C$75 Million "Bought Deal" Private Placement of Common Shares
CASA GRANDE, Ariz. and TORONTO, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is plea
About this update from Arizona Sonoran Copper Co., Inc.
[{"type":"text","content":" CASA GRANDE, Ariz. and TORONTO, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (collectively, the \"Underwriters\"), pursuant to which the Underwriters have agreed to purchase, on a bought-deal private placement basis, 22,388,100 common shares of the Company (the \"Common Shares\") at a price of C$3.35 per Common Share (the \"Offering Price\") for gross proceeds of C$75,000,135 (the \" Offering\"). The Company has also granted the Underwriters an option to purchase up to an additional 3,358,200 Common Shares at the Offering Price for additional gross proceeds of up to C$11,249,970, which option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering. The net proceeds of the Offering will be used for early development activities at the Company's Cactus Project, as well as for working capital and general corporate purposes. The Common Shares will be offered on a private placement basis pursuant to available exemptions from the prospectus requirement in each of the provinces of Canada, other than Quebec, and in such other jurisdictions as may be mutually agreed to by the Company and the Underwriters. It is anticipated that closing of the Offering will occur on or about December 2, 2025, or such other date or dates as the Company and the Underwriters may agree. The Offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including the conditional approval of the Toronto Stock Exchange. The securities to be issued under the Offering will be subject to a hold period expiring four months and one day from the applicable closing date in accordance with applicable Canadian securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"1933 Act\") or any state sec...