Arizona Sonoran raises C$10.4 million from Hudbay Minerals placement

Arizona Sonoran Copper Company Inc. (TSX: ASCU | OTCQX: ASCUF) closed a C$10.4 million private placement with Hudbay Minerals Inc., the company announced. The transaction allows Hudbay to maintain its 9.99% ownership interest in the copper developer.

Under the placement, Hudbay purchased 3,111,089 common shares at C$3.35 per share. The investment represents Hudbay's exercise of pre-emptive rights under an investor rights agreement dated January 31, 2025, following Arizona Sonoran's recent C$86.3 million bought deal private placement completed on December 2.

Arizona Sonoran President and CEO George Ogilvie stated the recent financings provide the company with capital to expand its 2026 deliverables to include early development activities. The company expects to end 2025 with just over US$100 million in cash.

Following the equity financings, Arizona Sonoran has 208,656,359 common shares outstanding. The company plans to advance activities outlined in its recent Pre-Feasibility Study, with details to be summarized in a 2026 Work Plan press release expected early in the new year.

The shares issued under the Hudbay placement are subject to a four-month and one-day hold period under Canadian securities laws. The transaction requires final approval from the Toronto Stock Exchange.

Arizona Sonoran owns the Cactus Project, a copper development property in Arizona. The company completed a Pre-Feasibility Study in 2025 for the proposed open pit copper mine operation.

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