Financings

Core Nickel Corp. to Undertake RRSP & TFSA Eligible Private Placement Concurrent with Previously Announced Brokered Private Placement by Arizona Copper and Gold Inc. to Raise Combined Proceeds of up to $10 Million

By The Northwire Desk — AI Analysis Oct 20, 2025 · 15:19 CNCO · 0.14 Core Nickel Corp.

CNCO · Price

Arizona Copper and Gold Inc. (ACG) and Core Nickel Corp. announce a concurrent private placement of subscription receipts, targeting up to C$10 million in aggregate gross proceeds.
The offering includes an Agents’ Option for ACG to issue additional receipts worth up to C$1.5 million, potentially raising total proceeds to C$11.5 million.
Proceeds are earmarked to fund exploration, working capital and general corporate purposes of the post‑transaction “Arizona Eagle Mining Corp.” resulting from the proposed reverse takeover of Core by ACG.

Concurrent Offering Structure:
Core Subscription Receipts priced at $1.50 each; automatically convert into one Core Unit (one post‑consolidation share + ½ warrant) upon closing and satisfaction/waiver of escrow conditions within 120 days.
Each Core Warrant exercisable for an additional Core Share at $2.00 per share for two years from the closing date.
ACG Offering:
Private placement of ACG Subscription Receipts (best‑efforts) with Stifel Canada as lead agent and sole bookrunner.
Agents’ Option allows issuance of up to an additional C$1.5 million in receipts, raising potential total gross proceeds to C$11.5 million.
Transaction Context:
Offerings are being completed in connection with the previously announced proposed reverse takeover of Core by ACG.
Post‑transaction, the combined entity will operate as “Arizona Eagle Mining Corp.” and will conduct a 1‑for‑10 share consolidation prior to closing.
Closing Timeline: Expected around November 13, 2025 (or other mutually agreed date).
Use of Proceeds: Funding for exploration activities, working capital, and general corporate purposes of the resulting issuer.
Regulatory & Tax Considerations:
Subscription receipts qualified as RRSP/TFSA‑eligible investments under Canadian tax law; investors advised to obtain independent tax advice.
Securities subject to a statutory hold period in Canada of four months and one day from issuance.

Kevin Reid, CEO of Arizona Copper and Gold Ltd., emphasized the strategic alignment of the concurrent offerings with the planned reverse takeover and the importance of securing capital for upcoming exploration programs.

All forward‑looking statements are subject to risks and uncertainties detailed in the release.

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