Surge Copper Announces Closing of $5.9 Million Private Placement and Provides Update on Concurrent Strategic Investment

About this update from Surge Copper Corp.

[{"type":"text","content":"Surge Copper Announces Closing of $5.9 Million Private Placement and Provides Update on Concurrent Strategic Investment\n\n\n\n Vancouver, British Columbia, July 29, 2025 (GLOBE NEWSWIRE) --\n \n Not for distribution to U.S. newswire services or dissemination in the United States\n \n\n\n\n Surge Copper Corp. (TSXV:\n \n\n\n\n SURG\n \n\n\n\n ) (OTCQB:\n \n\n\n\n SRGXF\n \n\n\n\n ) (Frankfurt:\n \n\n\n\n G6D2\n \n\n\n\n ) (“Surge” or the “Company”)\n \n is pleased to announce that it has closed its previously announced non-brokered private placement (the “\n \n Offering\n \n ”), consisting of a total of 19,218,893 common shares (the “\n \n Common Shares\n \n ”) at a price of $0.175 per Common Share and 9,433,963 charity flow-through common shares (the “\n \n CFT Shares\n \n ”) at a price of $0.265 per CFT Share, for aggregate gross proceeds of approximately $5.9 million.\n \n\n The Offering was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -\n \n Prospectus Exemptions\n \n , as amended by Coordinated Blanket Order 45-935 -\n \n Exemptions from Certain Conditions of the Listed Issuer Financing Exemptions\n \n . The Common Shares and CFT Shares issued under the Offering were issued to purchasers resident in Canada (other than the province of Québec) and in other qualifying jurisdictions outside of Canada on a private placement basis pursuant to relevant prospectus or registration exemptions in accordance with applicable laws, and such Common Shares and CFT Shares are not subject to a hold period in Canada in accordance with applicable Canadian securities laws.\n \n\n The gross proceeds from the CFT Shares issued under the Offering will be used prior to December 31, 2026 for exploration expenditures that will qualify as “Canadian exploration expenses” and “flow-through critical mineral mining expenditures” within the meaning of the\n \n Income Tax Act\n \n (Canada) (collectively, the “\n \n Qualifying Expenditures\n \n ”). The Company will renounce all Qualifying Expenditures in favour of the purchasers of the CFT Shares, effective December 31, 2025.\n \n\n The net proceeds from the Common Shares issued under the Offering will be used to fund engineering, envi...

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