Arizona Sonoran Announces Closing of C$86.3 Million "Bought Deal" Private Placement of Shares

Executive Summary

• Arizona Sonoran Copper Company closed a private placement of 25,746,300 common shares at C$3.35 per share, generating gross proceeds of C$86.25 million.
• Net proceeds will fund early‑stage development of the Cactus Project (permit amendments, Definitive Feasibility Study, project financing) and provide working capital/general corporate purposes.
• The placement was executed on a “bought‑deal” basis with a syndicate of underwriters led by Canaccord Genuity; shares are subject to a statutory hold period expiring 3 April 2026.

Key Details

• Shares Issued: 25,746,300 common shares (including 3,358,200 exercised underwriter option).
• Price per Share: C$3.35.
• Gross Proceeds: C$86,250,105.
• Underwriting Agreement Date: 2 December 2025.
• Lead Underwriter/Bookrunner: Canaccord Genuity Corp.; other participants: Desjardins Securities Inc., Paradigm Capital Inc., Raymond James Ltd., Scotia Capital Inc., Cormark Securities Inc., Haywood Securities Inc., RBC Dominion Securities Inc., Stifel Nicolaus Canada Inc.
• Use of Proceeds: Early development activities at the Cactus Project, permit amendment processes, completion of Definitive Feasibility Study, advancement of project financing, working capital and general corporate purposes.
• Statutory Hold Period: Shares subject to hold until 3 April 2026 under Canadian securities law.
• U.S. Offering Restrictions: Shares not registered in the United States; cannot be offered or sold there without registration or an applicable exemption.
• TSX Approval: Private placement remains subject to final approval by the Toronto Stock Exchange.

Notable Quotes

(No direct quotes were included in the release.)