Business
Arizona Sonoran Copper Closes C$30,000,000 Bought Deal Financing
CASA GRANDE, Ariz. & TORONTO / Feb 16, 2023 / Business Wire / Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased
About this update from Arizona Sonoran Copper Co., Inc.
[{"type":"text","content":"CASA GRANDE, Ariz. & TORONTO / Feb 16, 2023 / Business Wire / Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce that it has closed its previously announced bought deal financing of 15,000,000 common shares in the capital of the Company (the “Common Shares”) at a price of C$2.00 per Common Share (the “Issue Price”), for gross proceeds to the Company of C$30,000,000 (the “Offering”). The Offering was underwritten on a “bought deal” basis by a syndicate of underwriters, led by Haywood Securities Inc. (“Haywood”), as lead underwriter and sole bookrunner, and including Canaccord Genuity Corp., Stifel Nicolaus Canada Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Cormark Securities Inc., iA Private Wealth Inc., Raymond James Ltd., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc (together with Haywood, the “Underwriters”). The net proceeds from the Offering will be used for exploration and development at the Company’s Cactus Mine Project located in Arizona, and for general working capital and corporate purposes, as described in the Prospectus (as defined below). The Common Shares were offered by way of a short form prospectus dated February 9, 2023, filed in all provinces of Canada, except Québec (the “Prospectus”). The Common Shares were offered to U.S. buyers on a private placement basis pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and other jurisdictions outside of Canada provided that no prospectus filing or comparable obligation arises. The securities offered in the Offering 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 or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Tembo Capital Elim Co-Investm...