Business
Arizona Sonoran Closes C$5.8 Million Private Placement with Hudbay Minerals
CASA GRANDE, Ariz. & TORONTO, July 10, 2025--ASCU closed a C$5.8 million non-brokered private placement equity financing with Hudbay 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":2100,"height":831,"url":"https://media.zenfs.com/en/business-wire.com/74e6abbbaa5d3892d7691c34ffdb1717"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/PyJQ7jDIacteHhkUpAWzkQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTM4MDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/74e6abbbaa5d3892d7691c34ffdb1717","width":960,"height":380},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/6NCr19d4PM8g_2MmMPa8rg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTI0MDA7aD05NTA7Y2Y9d2VicA--/https://media.zenfs.com/en/business-wire.com/74e6abbbaa5d3892d7691c34ffdb1717","width":1200,"height":475}},"lazy":false},{"type":"text","content":"CASA GRANDE, Ariz. & TORONTO, July 10, 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 June 20, 2025, it has closed a C$5.8 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":568,"tagName":"p"},{"type":"text","content":"ASCU President and CEO, George Ogilvie commented, "We appreciate Hudbay’s continued support as a strategic shareholder in our brownfield copper project. Their pre-emptive rights investment reflects confidence in our progress and outlook as we continue to move toward an anticipated Final Investment Decision as early as Q4 2026. With 2025 and 2026 shaping up as pivotal and well-funded years, we are advancing Cactus from the 2024 PEA to pre-feasibility study, and laying the groundwork for necessary permit amendments, project financing, and 86k short ton life of mine average annual cathode production (as projected in the 2024 PEA). This year’s work—including trade-off studies, engineering, drilling, metallurgy, and royalty reductions—we believe has significantly de-risked the Project. We are grateful to all of our other shareholders for their continuing support as we work to further de‑risk and unlock the full potential of the Cactus Project."","length":963,"tagName":"p"},{"type":"...