Arizona Sonoran closes C$86.3 million private placement

Arizona Sonoran Copper Company Inc. (TSX: ASCU) completed a private placement of 25,746,300 common shares at C$3.35 per share, raising gross proceeds of C$86.3 million. The transaction closed as a "bought deal" offering and included the full exercise of underwriters' over-allotment option for 3,358,200 additional shares.

Canaccord Genuity Corp. served as lead underwriter and sole bookrunner for the syndicate, which included Desjardins Securities Inc., Paradigm Capital Inc., Raymond James Ltd., Scotia Capital Inc., Cormark Securities Inc., Haywood Securities Inc., RBC Dominion Securities Inc., and Stifel Nicolaus Canada Inc.

The company stated it will use net proceeds for early development activities at its Cactus Project, working capital and general corporate purposes. Arizona Sonoran said the funding will support permit amendment processes, completion of a Definitive Feasibility Study, advancement of project financing and other early-stage development expenditures at the copper project.

The shares are subject to a statutory hold period under Canadian securities laws that expires on April 3, 2026. The transaction remains subject to final approval from the Toronto Stock Exchange.

Arizona Sonoran holds a 100% interest in the Cactus Project, a copper exploration and development property located in Arizona. The company completed the private placement pursuant to an underwriting agreement dated December 2, 2025.

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