Business
Faraday Copper Announces Closing of C$100 Million Offering with Participation by a Lundin Family Trust and BHP
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / March 11, 2026 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY)(OTCQX:CPPKF) is pleased to announce it ...
About this update from Bhp Group Ltd
[{"type":"text","content":"NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES","length":97,"tagName":"p"},{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / March 11, 2026 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY)(OTCQX:CPPKF) is pleased to announce it has closed its previously announced non-brokered private placement financing for aggregate gross proceeds of C$100,002,000 (the "Offering") from strategic and other investors, including a Lundin Family Trust and a wholly owned subsidiary of BHP Group Limited ("BHP").","length":457,"tagName":"p"},{"type":"text","content":"Graham Richardson, CFO, commented "I would like to thank all our shareholders for their continued support, particularly the Lundin Family. Additionally, I am delighted to welcome BHP as a strategic shareholder to Faraday. The funds from this private placement will enable us to rapidly advance our study of the potential for development of the combined Copper Creek and San Manuel projects as we seek to bring additional U.S. copper supply online and provide responsible economic development to Pinal County."","length":519,"tagName":"p"},{"type":"text","content":"Pursuant to the Offering, Faraday issued an aggregate of 23,810,000 common shares of the Company at a price of C$4.20 per share for gross proceeds of C$100,002,000. The Company intends to use the net proceeds from the Offering for the ongoing advancement of copper projects in Pinal County, Arizona, including transaction expenses in connection with the proposed acquisition and integration of the San Manuel property from BHP (see news release dated February 20, 2026). No finders' fees or commissions are payable by Faraday in connection with the Offering.","length":562,"tagName":"p"},{"type":"text","content":"The common shares issued under the Offering are subject to a hold period of four months and one day from the date hereof under Canadian securities laws. The Offering remains subject to final approval by the TSX.","length":211,"tagName":"p"},{"type":"text","content":"Certain insiders of the Company participated in the Offering, each of which constitutes a "related party transaction" pursuant to Multilateral Instrument 61-101 - Protection of Minority Shareholders in Special Transactions ("MI 61...