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Surge Copper Announces Upsize of Private Placement to $10.4 Million
Not for distribution to U.S. newswire services or dissemination in the United States Vanc...
About this update from Surge Copper Corp.
[{"type":"text","content":"Surge Copper Announces Upsize of Private Placement to $10.4 Million\n\n\n\n\n Not for distribution to U.S. newswire services or dissemination in the United States\n \n\n\n\n Vancouver, British Columbia, July 09, 2025 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV:\n \n\n\n SURG\n \n\n\n ) (OTCQB:\n \n\n\n SRGXF\n \n\n\n ) (Frankfurt:\n \n\n\n G6D2\n \n\n\n ) (“Surge” or the “Company”)\n \n is pleased to announce that, due to strong investor demand, it has upsized its previously announced non-brokered equity financing (see\n \n July 7, 2025 press release)\n \n from approximately $6.4 million to up to $10.4 million (the “\n \n Offering\n \n ”). The Offering is fully subscribed, with strong participation from both new and existing investors.\n \n\n The Offering will now consist of the following components:\n \n\n\n\n LIFE Offering:\n \n A non-brokered private placement of up to 19.2 million common shares (the “\n \n Common Shares\n \n ”) at a price of $0.175 per share for gross proceeds of up to $3.4 million (the “\n \n LIFE Offering\n \n ”). This offering is being made under the “listed issuer financing exemption” (LIFE), allowing issued shares to be freely tradable in Canada. The LIFE Offering is expected to close in two to three weeks.\n \n\n\n\n\n LIFE Charity Flow-Through Offering:\n \n A non-brokered private placement of up to 9.4 million charity flow-through common shares (the “\n \n CFT Shares\n \n ”) at a price of $0.265 per share for gross proceeds of up to $2.5 million (the “\n \n LIFE CFT Offering\n \n ”). This offering is also being made under the LIFE exemption, and the CFT shares will be freely tradable in Canada. The LIFE CFT Offering is expected to close in two to three weeks.\n \n\n\n\n\n Concurrent Strategic Investment:\n \n A concurrent private placement of up to 25.8 million Common Shares at a price of $0.175 per share by a significant existing strategic investor (see\n \n May 31, 2024 press release\n \n ), who holds participation rights and intends to increase its ownership to up to 19.9% of the Company’s outstanding shares following closing (the “\n \n Concurrent Private Placement\n \n ”). This component is expected to raise up to $4.5 million and will close following the completi...