Arizona Sonoran Copper Announces Closing of C$51,750,000 Bought Deal Public Offering of Common Shares

About this update from Arizona Sonoran Copper Co., Inc.

[{"type":"text","content":"The final short form prospectus is accessible through SEDAR+ TORONTO / Jun 20, 2025 / Business Wire / Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“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”). 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”). 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. 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 the United States as agreed to by the Company and the Underwriters, in each case in accordance with all applicable laws and such that no prospectus, registration or other similar document was required to be filed in those jurisdictions. The Offering remains subject to the final approval of the Toronto Stock Exchange. ...

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