Algo Grande Copper closes $6.52-million financing

Executive Summary

• Algo Grande Copper Corp. closed an oversubscribed non-brokered private placement, raising $6.52 million in gross proceeds at $0.65 per share.
• Proceeds will primarily fund a Phase II drill program at the 100%-owned Adelita project in Sonora, Mexico, targeting expansion drilling at Cerro Grande and a new 6-kilometre limestone corridor.
• Three new directors (Raymond Jannas, Hunter Scharfe, and Enrico Gay) were elected at the company’s annual general meeting on February 25, 2026.

Key Details

• Financing Structure: Non-brokered private placement of common shares.
• Pricing & Quantity: Deemed price of $0.65 per share; 10,037,020 shares issued.
• Gross Proceeds: $6,524,063.
• Use of Proceeds: Phase II exploration drill program at Adelita (Cerro Grande expansion + 6km prospective limestone corridor), additional operating costs, and general working capital.
• Finder Compensation: Aggregate cash commissions of $169,605.44 (7% of gross proceeds from finder-introduced purchasers) plus 355,863 common share purchase warrants (7% of shares purchased by finder-introduced purchasers). Warrants carry a $0.65 exercise price and a 3-year term.
• Financial Adviser Fee: Canaccord Genuity Corp. received a $50,000 corporate finance fee, settled via issuance of 76,923 shares at $0.65 per share.
• Hold Period: Securities are subject to a 4-month + 1 day hold period post-closing.
• Insider Participation: Company directors subscribed for 77,155 shares for $50,150.75, classified as a related party transaction relying on MI 61-101 exemptions.
• Board Changes: Shareholders approved the election of Raymond Jannas, Hunter Scharfe, and Enrico Gay as new directors at the AGM held on Feb 25, 2026.

Notable Quotes

• Raymond Jannas (Newly Elected Director): "The Adelita project exhibits many of the characteristics we look for in emerging district-scale systems, high-grade skarn mineralization with clear geological vectors toward a deeper potential porphyry source. What excites me most is the combination of compelling geology and a focused, determined team that is executing with discipline. With capital in place and a clear exploration road map, Algo Grande is well positioned to unlock the broader potential of this system."