Algo Grande Copper Closes Oversubscribed Private Placement for $4.786 Million
Algo Grande Copper (TSXV:ALGR)(OTC:ALGRF) closed its previously announced, oversubscribed non-brokered private placement of 7,977,497 common shares at a deemed price of $0.60 per share, raising aggregate gross proceeds of $4,786,498.
Rhea-AI Summary
Algo Grande Copper (TSXV:ALGR)(OTC:ALGRF) closed its previously announced, oversubscribed non-brokered private placement of 7,977,497 common shares at a deemed price of $0.60 per share, raising aggregate gross proceeds of $4,786,498. Proceeds will fund ongoing drilling and exploration at the 100%-owned Adelita copper-gold-silver project in Sonora, plus operating costs and working capital.
According to Algo Grande Copper, eligible finders received $104,020 in cash commissions and 238,950 finder warrants exercisable at $0.60 for two years. Securities are subject to a four-month plus one day hold period. Insiders subscribed for 123,333 shares for gross proceeds of $73,998, a related party transaction conducted under MI 61-101 exemptions.
Positive
- Non-brokered financing closed for $4,786,498 via 7,977,497 shares at $0.60
- Offering proceeds allocated to Adelita Project drilling, exploration, and working capital
Negative
- Issuance of 7,977,497 new shares increases share count and dilutes existing shareholders
- Finder compensation includes $104,020 cash and 238,950 warrants, adding cost and potential future dilution
News Market Reaction – ALGRF
In the Sep 2 session, ALGRF declined 25.83%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / September 1, 2026 / Algo Grande Copper Corp. ("Algo Grande" or the "Company") (TSXV:ALGR)(OTCID:ALGRF)(FRA:KM00) is pleased to announce that, pursuant to its news releases dated August 13, 2026 and August 26, 2026, it has closed its previously announced non-brokered private placement (the "Offering") of common shares in the capital of the Company (the "Shares"), at a deemed price of
Proceeds from the offering will be used to fund ongoing drilling and exploration on the Company's
In connection with the closing of the Offering, the Company paid certain eligible finders (each, a "Finder") aggregate cash commissions of
Securities issued in the Offering are 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.
Certain insiders of the Company (the "Insiders") subscribed for an aggregate of 123,333 Shares for aggregate gross proceeds of
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.
The company 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
Cautionary Statement on Forward-Looking Information
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.
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 the 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 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