Algo Grande Copper Announces Upsizing of Private Placement of Common Shares

Executive Summary

• Algo Grande Copper Corp. upsized its non‑brokered private placement, increasing the maximum gross proceeds from $5 M to up to $7 M (10,769,231 shares at $0.65 each).
• Net proceeds will fund Phase II drilling on the 100 % owned Adelita Project in Sonora, Mexico, targeting expansion of the Cerro Grande skarn and a 6‑km limestone corridor with multiple undrilled targets.
• The offering includes finder commissions (7 % cash) and Finder Warrants (7 % of shares purchased), a $50,000 corporate finance fee to Canaccord Genuity payable in cash or shares, and a four‑month hold period on the securities.

Key Details

• Upsized Offering Size: Up to 10,769,231 common shares at $0.65 per share; maximum gross proceeds of $7,000,000 (up from $5,000,000).
• Use of Proceeds: Fund Phase II exploration at Adelita Project – expansion drilling at Cerro Grande skarn and first‑pass drilling along a ~6 km prospective limestone corridor; cover additional operating costs and general working capital.
• Finder Compensation: Cash commission equal to 7 % of gross proceeds attributable to each Finder; issuance of Finder Warrants equal to 7 % of shares purchased through the Finder, exercisable at $0.65 per share for 36 months.
• Financial Advisor Fee: Canaccord Genuity Corp. will receive a $50,000 corporate finance fee, payable in cash or by issuing shares at a deemed price of $0.65 per share upon completion of the offering.
• Hold Period: Securities issued are subject to a four‑month hold period plus one day from closing date, in accordance with applicable securities laws.
• Insider Participation: Insiders may participate; the company intends to rely on exemptions from formal valuation and minority shareholder approval requirements under MI 61‑101.
• Closing Conditions: Offering is contingent upon receipt of all necessary approvals, including TSX Venture Exchange acceptance; no minimum subscription amount required.

Notable Quotes

“The Upsized Offering provides us with the capital needed to advance our high‑grade Cerro Grande discovery and explore the broader skarn corridor, positioning Algo Grande for significant value creation.” – Enrico Gay, Chief Executive Officer.