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Atacama Copper Corporation Announces Upsizing and Closing of First Tranche of Subscription Receipt Private Placement
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2023) -  Atacama Copper Corporat...
About this update from Fuerte Metals Corporation
[{"type":"text","content":"Atacama Copper Corporation Announces Upsizing and Closing of First Tranche of Subscription Receipt Private PlacementVancouver, British Columbia--(Newsfile Corp. - December 20, 2023) -  Atacama Copper Corporation (TSXV: ACOP) (\"Atacama Copper\" or the \"Company\") is pleased to announce that further to its press releases dated October 26, 2023 and December 15, 2023, the Company intends to increase the size of its previously announced brokered private placement (the \"Concurrent Financing\") to up to 66,666,667 subscription receipts of the Company (\"Subscription Receipts\") at a price of $0.18 per Subscription Receipt for aggregate gross proceeds of up to $12,000,000. The Company also announces the closing of the first tranche of the Concurrent Financing and the closing of the Common Share Offering (as defined herein) for aggregate gross proceeds of approximately $7.0 million. The Company anticipates that it will close a second tranche of the Concurrent Financing in January 2024. Unless otherwise stated, all amounts referred to herein are in Canadian dollars. Summary of the Concurrent FinancingPursuant to the terms of an agency agreement between the Company, TCP1 Corporation (\"TCP1\") and Cormark Securities Inc. and Stifel Canada, as co-lead agents (the \"Agents\"), under the first tranche of the Concurrent Financing, the Company issued an aggregate of 38,555,655 Subscription Receipts at a price of $0.18 per Subscription Receipt. The first tranche of the Concurrent Financing was completed in connection with previously announced business combination and reverse takeover transaction of the Company, pursuant to which the Company will acquire all of the issued and outstanding shares of TCP1 in exchange for common shares of the Company (the \"Proposed Transaction\"). The Company, upon completion of the Proposed Transaction (referred to herein as the \"Resulting Issuer\"), is expected to continue trading on the TSX Venture Exchange (\"TSXV\") as a tier 1 mining issuer under its current symbol \"ACOP\". In accordance with the terms and conditions of the subscription receipt agreement entered into among the Company, the Agents and TSX Trust Company, as escrow agent (the \"Subscription Receipt Agreement\"), each Subscription Receipt will automatically convert into one pre-Consolidation (as defined herein) common share of the Result...