Faraday Copper arranges $100-million placement

Executive Summary

• Faraday Copper Corp. has arranged a non-brokered private placement for aggregate gross proceeds of up to $100,002,000.
• Strategic investors, including the Lundin Family Trusts and a wholly owned subsidiary of BHP Group Ltd., are participating in the offering.
• Net proceeds will primarily fund the advancement of copper projects in Pinal County, Arizona, including transaction expenses for the planned acquisition and integration of the San Manuel property from BHP.

Key Details

• Gross Proceeds: Up to $100,002,000.
• Share Price: $4.20 per common share.
• Shares Issued: Up to 23.81 million common shares.
• Investors:
  • Lundin Family Trusts (settled by the late Adolf H. Lundin).
  • A wholly owned subsidiary of BHP Group Ltd.
• Use of Proceeds: Primarily for the continuing advancement of copper projects in Pinal County, Arizona, including transaction expenses related to the planned acquisition and integration of the San Manuel property from BHP.
• Closing Date: Scheduled on or about March 11, 2026.
• Regulatory Conditions: Subject to regulatory approval, including the Toronto Stock Exchange (TSX), and customary closing conditions such as execution of subscription agreements.
• Share Restrictions: Shares issued on a private placement basis pursuant to exemptions from prospectus requirements; subject to a statutory hold period of four months and one day from the date of issuance.
• Related Party Transaction: Participation by the Lundin Family Trusts is considered a related party transaction under Multilateral Instrument 61-101. The company intends to rely on exemptions from formal valuation and minority shareholder approval requirements, as the fair market value of shares issued to these parties will not exceed 25% of the company's market capitalization.

Notable Quotes

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