Northwire Canada EditionTuesday, November 10, 2026
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Financings

Marimaca Copper Announces Closing of Canadian Offering for C$257 Million (~A$266 Million) of C$409 Million (~A$423 Million) Global Offering

By The Northwire Desk — AI Analysis Feb 26, 2026 · 09:50 MARI · 10.21 Marimaca Copper Corp.
MARI · Price

Executive Summary

  • Marimaca Copper Corp. closed its Canadian treasury offering of C$136.5 million (13,650,000 shares at C$10.00) and announced the imminent closing of its Australian secondary offering.
  • The net proceeds from the Canadian treasury will fund pre‑construction engineering, early site work, a drilling campaign at Pampa Medina, and general corporate purposes.
  • Secondary offerings raised approximately C$272.5 million for selling shareholders; Marimaca receives no cash from these secondary portions.

Key Details

  • Canadian Treasury Offering:
  • Size: C$136.5 million
  • Shares issued: 13,650,000 common shares

  • Price per share: C$10.00

  • Canadian Secondary Offering:

  • Size: C$120.5 million

  • Shares sold: 12,049,087 existing common shares (owned by Greenstone Resources II L.P. and Greenstone Co‑Investment No. 1 (Coro) L.P.)

  • Australian Secondary Offering:

  • Expected size: A$157 million
  • CDIs sold: 15,200,913 CHESS Depositary Interests at A$10.35 each

  • Proceeds payable to selling shareholders; Marimaca receives no cash.

  • Total Gross Proceeds (Company): Approximately C$136.5 million (≈ A$141 million) from the treasury portion.

  • Use of Funds (Treasury Proceeds):

  • Advance Marimaca Project – fund pre‑construction decision engineering workstreams and early site works.
  • Conduct drilling campaign at Pampa Medina.

  • Working capital and general corporate purposes.

  • Agents / Lead Managers:

  • Canadian Co‑Lead Agents: Beacon Securities Ltd., BMO Capital Markets (syndicate includes National Bank Financial, ATB Capital Markets, Paradigm Capital, Raymond James).

  • Australian Co‑Lead Agents: Euroz Hartleys Ltd., Canaccord Genuity (Australia) Ltd.

  • Related Party Transactions:

  • Insiders of Assore International Holdings Ltd. and Ithaki Ltd. participated in the treasury offering (4,170,000 and 3,412,500 shares respectively). Exempt from formal valuation/minority approval under MI 61‑101.

  • Mitsubishi Participation Right:

  • Mitsubishi holds ~3.86% pre‑offering; ~3.47% post‑offering. Has a 30‑business‑day right to purchase additional shares to maintain pro‑rata ownership, exercisable via private placement subject to TSX approval.

  • Regulatory Notes:

  • Treasury offering pending final TSX approval.
  • Australian secondary offering to be allotted in the coming days.
  • Securities not registered under U.S. securities laws; offered only pursuant to exemptions.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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