Financings

Algo Grande Copper Secures Over $3.8 Million in Oversubscribed Subscription Receipt Financing

By The Northwire Desk — AI Analysis Dec 15, 2025 · 19:12 KEN · 0.45 None

KEN · Price

Kenadyr Metals Corp. (to be renamed Algo Grande Copper Corp.) closed the third and final tranche of its private placement, issuing 2,314,701 subscription receipts at $0.375 each for gross proceeds of $868,012.88.
Including prior tranches, total aggregate gross proceeds now equal $3,824,400, which will be held in escrow until the proposed Adelita Project acquisition and TSXV re‑activation are completed.
The company also issued finder’s fees (cash $10,500) and warrants/shares to finders, and disclosed a newly filed NI 43‑101 technical report for the Adelita Project.

Subscription Receipts: 2,314,701 units at $0.375 per unit → $868,012.88 gross proceeds (third tranche).
Total Offering Proceeds: $3,824,400 aggregate gross proceeds from all three tranches.
Conversion Terms: Each receipt converts to one common share upon satisfaction of escrow conditions (completion of Proposed Transaction and TSXV approval).
Use of Proceeds (once released):
Exploration expenditures on the Adelita Project
Property payments for Adelita Project land
Salaries, consulting fees, marketing & investor relations
Payment of existing accounts payable and loan repayments
General working capital, legal, accounting, and audit expenses
Finder Compensation:
Cash finder’s fee paid: $10,500
Finder’s Warrants issued: 84,000 warrants at $0.375 exercise price, expiring two months after issuance
Finder’s Shares to be issued: 56,000 common shares (settlement of cash finder's fee) – to be issued post‑closing of the Proposed Transaction
Proposed Transaction: Conditional TSXV approval received; expected closing on or about December 16, 2025 for acquisition of the Adelita Project.
Technical Report Filing: Independent NI 43‑101 Technical Report for the Adelita Project (effective August 15, 2025) filed and available on SEDAR+.

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