Business
Arizona Sonoran Closes C$10.4 Million Private Placement with Hudbay Minerals
CASA GRANDE, Ariz. & TORONTO, December 12, 2025--ASCU has closed a C$10.4 million non-brokered private placement equity financing with Hudbay Minerals Inc. which exercised its pre-emptive rights.
About this update from Hudbay Minerals Inc
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":442,"url":"https://media.zenfs.com/en/business-wire.com/2ef462179e72f5df8b8843e3d6633a2f"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/zEMIhpXT9L5VodotDz4zgg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTg4NDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/2ef462179e72f5df8b8843e3d6633a2f","width":480,"height":442}},"lazy":false},{"type":"text","content":"CASA GRANDE, Ariz. & TORONTO, December 12, 2025--(BUSINESS WIRE)--Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) ("ASCU" or the "Company") an emerging US-based copper developer and near-term producer, is pleased to announce that further to its press release dated December 2, 2025, it has closed a C$10.4 million non-brokered private placement equity financing with Hudbay Minerals Inc. ("Hudbay") which exercised its pre-emptive rights under its Investor Rights Agreement (as defined herein) (the "Hudbay Placement").","length":576,"tagName":"p"},{"type":"text","content":"ASCU President and CEO, George Ogilvie commented, "The recent financings have provided ASCU with the incremental capital to expand our key 2026 deliverables to include early development activities. Logistically, we will begin advancing the most productive and/or time sensitive activities outlined in the recent Pre-Feasibility Study, which will be summarized in a 2026 Work Plan press release expected early in the new year. We would like to thank Hudbay for its ongoing support of the Company. The Company now anticipates ending 2025 with just over US$100 million, providing a strong foundation to advance early development activities and project debt financing in 2026."","length":683,"tagName":"p"},{"type":"text","content":"Pursuant to the terms of the investor rights agreement between the Company and Hudbay dated January 31, 2025 (the "Investor Rights Agreement"), Hudbay elected to exercise its pre-emptive rights in respect of the Company’s C$86,250,105 bought deal private placement offering (see PR dated December 2, 2025) to maintain a 9.99% ownership interest in the Company. Hudbay subscribed for 3,111,089 common shares of the Company (the "Pre-emptive Right Shares") at a price of C$3....