Business
Arizona Sonoran Copper Announces Closing of C$86.3 Million “Bought Deal” Private Placement of Shares
TORONTO / Dec 02, 2025 / Business Wire / Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), announces that the Company has
About this update from Arizona Sonoran Copper Co., Inc.
[{"type":"text","content":"TORONTO / Dec 02, 2025 / Business Wire / Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), announces that the Company has closed its previously announced private placement of common shares of the Company (the “Common Shares”), pursuant to which the Company issued, on a “bought deal” basis, 25,746,300 Common Shares, including 3,358,200 Common Shares issued pursuant to the exercise in full of the option granted to the Underwriters (as defined herein), at a price of $3.35 per Common Share, for aggregate gross proceeds of C$86,250,105 (the “Private Placement”). The Private Placement was completed pursuant to an underwriting agreement dated December 2, 2025 entered into among the Company and a syndicate of underwriters led by Canaccord Genuity Corp., as lead underwriter and sole bookrunner, and including Desjardins Securities Inc., Paradigm Capital Inc., Raymond James Ltd., Scotia Capital Inc., Cormark Securities Inc., Haywood Securities Inc., RBC Dominion Securities Inc., and Stifel Nicolaus Canada Inc. (collectively, the “Underwriters”). The net proceeds of the Private Placement will be used for certain early development activities at the Company’s Cactus Project, as well as for working capital and general corporate purposes. The Company believes that it is now well-funded to execute on its key workstreams, including the completion of permit amendment processes and the Definitive Feasibility Study, advancement of project financing and other expenditures related to early-stage development activities at the Cactus Project. The Common Shares issued under the Private Placement are subject to a statutory hold period under applicable Canadian securities laws, expiring on April 3, 2026. The Common Shares have not been, and will not be, registered under the U.S. Securities Act, or any U.S. State securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable State securities laws or compliance with the requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualific...