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ALDE 2.81 +0.0% TECK 83.60 +3.6% FVI 11.82 −2.3% SUM 1.32 −0.8% RSMX 0.115 +4.5% STW 0.105 +5.0% PAT 0.250 +0.0% CCM 0.540 +3.9% SGN 0.240 −5.9% CNC 1.49 +1.4% PHNM 0.340 +4.6% LIO 0.145 −9.4% RIO 2.66 −4.7% KG 0.160 +3.2% GEN 0.065 +0.0% ECU 1.66 +9.9% ALDE 2.81 +0.0% TECK 83.60 +3.6% FVI 11.82 −2.3% SUM 1.32 −0.8% RSMX 0.115 +4.5% STW 0.105 +5.0% PAT 0.250 +0.0% CCM 0.540 +3.9% SGN 0.240 −5.9% CNC 1.49 +1.4% PHNM 0.340 +4.6% LIO 0.145 −9.4% RIO 2.66 −4.7% KG 0.160 +3.2% GEN 0.065 +0.0% ECU 1.66 +9.9%
Financings

Marimaca Copper Announces Closing of Australian Offering to Complete Global Offering of C$409 Million (~A$423 Million)

By The Northwire Desk — AI Analysis Feb 26, 2026 · 21:00 MARI · 10.2 Marimaca Copper Corp.
MARI · Price

Executive Summary

  • Marimaca Copper Corp. completed its global offering, raising total gross proceeds of C$409 million (≈A$423 million) from a Canadian treasury offering, Canadian secondary offering, and an Australian secondary offering.
  • The Australian secondary offering sold 15,200,913 CDIs at A$10.35 each, generating A$157 million in gross proceeds that were paid to the selling shareholders; Marimaca received no net cash from this tranche.
  • The Greenstone Group reduced its stake by disposing of ~13.7 million common shares/CDIs, lowering its ownership from 18.58% to roughly 6.44% of outstanding securities.

Key Details

  • Australian Secondary Offering – 15,200,913 existing CHESS Depositary Interests (CDIs) sold at A$10.35 per CDI; gross proceeds A$157 million.
  • Canadian Treasury Offering – Gross proceeds C$136.5 million.
  • Canadian Secondary Offering – Gross proceeds C$120.5 million (C$10.00 per share).
  • Total Global Offering – Aggregate gross proceeds C$409 million (≈A$423 million).
  • Lead Managers / Joint Bookrunners: Euroz Hartleys Ltd., Canaccord Genuity (Australia) Ltd., Beacon Securities Ltd., BMO Capital Markets.
  • Proceeds Distribution: Net proceeds from the Australian tranche were paid to selling shareholders; Marimaca did not receive any cash from this portion.
  • Ownership Impact – Greenstone Group:
  • Pre‑offering: 22,304,285 common shares (incl. 8 M CDIs) = 18.58% of outstanding securities.
  • Post‑offering: 2,255,198 common shares + 6,351,806 CDIs = 6.44% of outstanding securities (including Canadian treasury offering).
  • Disposed ~13,697,281 common shares/CDIs (≈11.41% reduction pre‑treasury; ≈12.14% after treasury).
  • Sale Price to Greenstone Group: C$10.00 per share (Canadian secondary) and A$10.35 per CDI (Australian secondary); total proceeds to Greenstone C$136,972,810 (exchange rate C$1 = A$0.9961), net of commissions/expenses.
  • Lock‑up Agreement: Selling shareholders agreed not to sell any common shares or CDIs for 90 days post‑closing, subject to limited exceptions.
  • Regulatory Notices: Early warning report to be filed with securities commissions and posted on SEDAR+. U.S. securities disclaimer confirming the offering was exempt from registration under the U.S. Securities Act.

Notable Quotes

(No executive quotes were included in the release.)

Read the original news release →

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