Element 29 Announces Fully-Committed Private Placement of up to $12,000,000 with Strategic Investors
Element 29’s fully committed $12m placement at $1.65 fuels copper exploration at its Peruvian projects.
Element 29 Resources Inc. announced a fully committed, non-brokered private placement of up to 7,272,727 common shares at $1.65 CAD per share. The transaction targets gross proceeds of up to $12,000,000 CAD.
Proceeds will fund exploration activities across the company's Peruvian copper portfolio, specifically the Elida, Flor de Cobre, and Paka projects. The placement carries a 7% finder's fee, is subject to TSX Venture Exchange acceptance, and includes a statutory four-month-and-one-day hold period. Securities are not registered under the U.S. Securities Act of 1933 and are not offered or sold in the United States.
Element 29 Resources Inc. (ECU) announced a financing round priced at $1.65 per share, representing approximately a 50% premium to the $35.5 million private placement closed in April 2026 at $1.10 per share. The fully committed nature of the offering eliminates execution risk and provides immediate, predictable liquidity to advance the company’s 10,000-meter drilling program and metallurgical test work.
Element 29 Resources Inc. is a junior exploration company focused on copper, molybdenum, and silver projects in Peru, a world-class mining jurisdiction. Its flagship asset is the Elida Porphyry Cu-Mo-Ag deposit, located 170 km NW of Lima. The company currently holds an Inferred Mineral Resource of 321.7 million tonnes grading 0.32% Cu, 0.03% Mo, and 2.61 g/t Ag at a 0.2% Cu cut-off grade.
The portfolio also includes the Flor de Cobre, Paka, and Pahuay projects, all at varying stages of environmental permitting and exploration. Management is led by CEO Richard Osmond, P.Geo., with technical oversight provided by Ginto Consulting Inc.