Algo Grande Copper Announces $3 Million Private Placement to Fund Expansion of Phase II Exploration Program at the Adelita Project
Rhea-AI Summary
Algo Grande Copper (TSXV:ALGR, OTC:ALGRF) announced a non-brokered private placement of up to 5,000,000 common shares at $0.60 per share, for gross proceeds of up to $3,000,000. Funds will support the expansion of the Phase II exploration program at the 100%-owned Adelita Project in Sonora, Mexico, plus operating costs and working capital.
The Offering may include a 6% cash commission and 6% finder warrants for eligible finders, with each finder warrant exercisable at $0.60 for 24 months. Securities will carry a four-month hold period. The financing is subject to TSX Venture Exchange and other required approvals and is not subject to a minimum subscription. Certain insiders may participate, with the company intending to rely on MI 61-101 exemptions.
Positive
- Up to $3,000,000 in gross proceeds to fund Adelita Phase II expansion
- Financing terms set at $0.60 per share for up to 5,000,000 shares
- Proceeds directed to 100%-owned Adelita Project plus working capital
- Offering not subject to a minimum aggregate subscription threshold
- Potential insider participation signals alignment with Adelita exploration plans
Negative
- Issuance of up to 5,000,000 new shares implies equity dilution for existing holders
- Finder compensation of 6% cash commission and 6% finder warrants adds to capital-raising costs
- Securities issued will be subject to a four-month hold period, limiting immediate liquidity for participants
AI-generated analysis. How Rhea-AI works. Not financial advice.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / August 13, 2026 / Algo Grande Copper Corp. ("Algo Grande" or the "Company") (TSXV:ALGR)(OTC PINK:ALGRF)(FRA:KM00) announces a non-brokered private placement (the "Offering") of up to 5,000,000 common shares in the capital of the Company (the "Shares") at a price of
The Offering follows a series of recent technical updates at Adelita, including the Company's August 11, 2026 announcement of expanding copper mineralization in Holes 2 and 3 of the ongoing Phase II drill program at Cerro Grande, where two drill rigs are currently active. Initial core samples were delivered to ALS's Hermosillo laboratory on August 7, 2026, with assay results expected in the coming weeks (see news release dated August 11, 2026).
In connection with the Offering, the Company may pay certain eligible finders (each, a "Finder") a cash commission equal to
Securities issued in the Offering will be subject to a four-month hold period in accordance with applicable securities laws, which will expire four months and one day from the date of closing of the Offering. The Offering is not subject to a minimum aggregate number of subscriptions. The Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals, including approval of the TSX Venture Exchange.
Enrico Gay, CEO of Algo Grande, commented: "In under a year, we have gone from a data package to a fully staffed team on the ground, advancing Adelita across exploration, infrastructure, and community relationships. The results to date in our phase II drill program give us confidence to expand our exploration program and continue advancing the project with momentum."
The Company expects that certain insiders of the Company (the "Insiders") may participate in the Offering. The participation of Insiders may constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Algo Grande Copper Corp.
Algo Grande Copper Corp. is a growth-focused mineral exploration company advancing the Adelita Project, a district-scale, multi-system copper-gold-silver opportunity positioned in the prolific Arizona-Sonora copper belt.
Algo Grande is dedicated to unlocking the full potential of this under-explored corridor through disciplined data-driven exploration, technical excellence, and a firm commitment to value creation for shareholders. The 5,895-hectare Adelita Project is anchored by the high-grade Cerro Grande Cu-Au-Ag skarn discovery, which exhibits strong continuity along a defined corridor extending over 6 kilometers. Reprocessing of legacy geophysical data and field mapping indicate the presence of a potential porphyry system at depth, suggesting a classic skarn-porphyry mineralization model similar to major deposits found throughout northwestern Mexico.
ON BEHALF OF ALGO GRANDE COPPER CORP.
Enrico Gay
Chief Executive Officer
For more information, please contact:
E-mail: info@algo-grande.com
Website: www.algo-grande.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Statement on Forward-Looking Information
This news release contains statements and information that, to the extent that they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Algo Grande to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, but not limited to, statements relating to the completion of the Offering, regulatory approvals for the Offering and the anticipated use of proceeds therefrom, and those listed in filings made by Algo Grande with the Canadian securities regulatory authorities (which may be viewed at www.sedarplus.ca). Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for Algo Grande's management to predict all of such factors and to assess in advance the impact of each such factor on Algo Grande's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Algo Grande does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.
SOURCE: Algo Grande Copper Corp.
View the original press release on ACCESS Newswire