Alta Copper Corp. (ATCUF) has completed a non-brokered private placement with Nascent Exploration, a Fortescue Ltd. subsidiary, raising Cdn$1,500,000 through the issuance of 2,941,176 common shares at Cdn$0.51 per share. The shares are subject to a four-month hold period. The company's flagship Cañariaco copper project in Peru spans 91 square km and includes significant deposits: Cañariaco Norte with 9.3 billion pounds of copper, 2.1 million ounces of gold, and 60.4 million ounces of silver in measured and indicated resources, and Cañariaco Sur with 2.5 billion pounds of copper in inferred resources. The company is progressing toward securing approvals from Peru's Ministry of Energy and Mines and local community for project development.
Alta Copper Corp. (ATCUF) ha completato un collocamento privato senza intermediari con Nascent Exploration, una sussidiaria di Fortescue Ltd., raccogliendo 1.500.000 dollari canadesi tramite l'emissione di 2.941.176 azioni ordinarie a 0,51 dollari canadesi per azione. Le azioni sono soggette a un periodo di blocco di quattro mesi. Il progetto principale della società, il progetto di rame Cañariaco in Perù, si estende su 91 km² e comprende depositi significativi: Cañariaco Norte con 9,3 miliardi di libbre di rame, 2,1 milioni di once d'oro e 60,4 milioni di once d'argento in risorse misurate e indicate, e Cañariaco Sur con 2,5 miliardi di libbre di rame in risorse inferite. La società sta avanzando verso l'ottenimento delle approvazioni dal Ministero dell'Energia e delle Miniere del Perù e dalle comunità locali per lo sviluppo del progetto.
Alta Copper Corp. (ATCUF) ha completado una colocación privada sin corredor con Nascent Exploration, una subsidiaria de Fortescue Ltd., recaudando 1.500.000 dólares canadienses mediante la emisión de 2.941.176 acciones comunes a 0,51 dólares canadienses por acción. Las acciones están sujetas a un período de retención de cuatro meses. El proyecto emblemático de la compañía, el proyecto de cobre Cañariaco en Perú, abarca 91 km² e incluye depósitos significativos: Cañariaco Norte con 9.300 millones de libras de cobre, 2,1 millones de onzas de oro y 60,4 millones de onzas de plata en recursos medidos e indicados, y Cañariaco Sur con 2.500 millones de libras de cobre en recursos inferidos. La compañía avanza para obtener las aprobaciones del Ministerio de Energía y Minas de Perú y de la comunidad local para el desarrollo del proyecto.
Alta Copper Corp.(ATCUF)는 Fortescue Ltd.의 자회사인 Nascent Exploration과 비중개인 사모 투자를 완료하여 150만 캐나다 달러를 모금하였으며, 주당 0.51 캐나다 달러에 2,941,176주 보통주를 발행했습니다. 이 주식들은 4개월간의 보호예수 기간이 적용됩니다. 회사의 대표 프로젝트인 페루의 Cañariaco 구리 프로젝트는 91평방킬로미터에 걸쳐 있으며, 주요 매장지로는 측정 및 확인 자원에 93억 파운드 구리, 210만 온스 금, 6040만 온스 은을 포함하는 Cañariaco Norte와 추정 자원에 25억 파운드 구리가 포함된 Cañariaco Sur가 있습니다. 회사는 페루 에너지광산부 및 지역 사회로부터 프로젝트 개발 승인을 받기 위해 진행 중입니다.
Alta Copper Corp. (ATCUF) a finalisé un placement privé sans intermédiaire avec Nascent Exploration, une filiale de Fortescue Ltd., levant 1 500 000 dollars canadiens par l'émission de 2 941 176 actions ordinaires à 0,51 dollar canadien par action. Les actions sont soumises à une période de blocage de quatre mois. Le projet phare de la société, le projet de cuivre Cañariaco au Pérou, s'étend sur 91 km² et comprend d'importants gisements : Cañariaco Norte avec 9,3 milliards de livres de cuivre, 2,1 millions d'onces d'or et 60,4 millions d'onces d'argent en ressources mesurées et indiquées, ainsi que Cañariaco Sur avec 2,5 milliards de livres de cuivre en ressources présumées. La société progresse vers l'obtention des approbations du ministère péruvien de l'Énergie et des Mines ainsi que des communautés locales pour le développement du projet.
Alta Copper Corp. (ATCUF) hat eine nicht vermittelte Privatplatzierung mit Nascent Exploration, einer Tochtergesellschaft von Fortescue Ltd., abgeschlossen und dabei 1.500.000 kanadische Dollar durch die Ausgabe von 2.941.176 Stammaktien zu je 0,51 kanadische Dollar pro Aktie eingenommen. Die Aktien unterliegen einer viermonatigen Haltefrist. Das Flaggschiff-Projekt des Unternehmens, das Cañariaco-Kupferprojekt in Peru, erstreckt sich über 91 Quadratkilometer und umfasst bedeutende Lagerstätten: Cañariaco Norte mit 9,3 Milliarden Pfund Kupfer, 2,1 Millionen Unzen Gold und 60,4 Millionen Unzen Silber in gemessenen und angezeigten Ressourcen sowie Cañariaco Sur mit 2,5 Milliarden Pfund Kupfer in abgeleiteten Ressourcen. Das Unternehmen arbeitet daran, die Genehmigungen des peruanischen Ministeriums für Energie und Bergbau sowie der lokalen Gemeinschaft für die Projektentwicklung zu sichern.
Positive
Raised Cdn$1.5 million in financing at Cdn$0.51 per share, above current market price
Strategic investment from Fortescue subsidiary indicates potential institutional backing
Cañariaco project contains substantial resources: 9.3 billion pounds of copper (M&I) plus 2.5 billion pounds (inferred)
Project advancing with progress toward regulatory and community approvals
Negative
Share dilution through new issuance of 2,941,176 common shares
Final Toronto Stock Exchange approval still pending
Project development still requires pending approvals from Ministry and local community
VANCOUVER, BC / ACCESS Newswire / May 21, 2025 / Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU) ("Alta Copper" or the "Company") is pleased to announce the closing of the previously announced non-brokered private placement with Nascent Exploration Pty. Ltd., a wholly owned subsidiary of Fortescue Ltd. (the "Private Placement").
A total of 2,941,176 common shares (the "Common Shares") were issued at a price of Cdn$0.51 for gross proceeds of Cdn$1,500,000. The Common Shares issued will be subject to a mandatory four-month and one day hold period, in accordance with applicable securities law.
Giulio T. Bonifacio, Executive Chair and CEO, commented: "The proceeds from the private placement provide the necessary working capital ahead of the commencement of drilling, while minimizing dilution on favorable terms at a price well above our current share price. We continue to make very good progress toward securing the required approvals from both the Ministry of Energy and Mines and the local community which will set the stage for the next phase in the development of our 100% owned advanced staged Cañariaco copper project".
The Private Placement remains subject to the final approval of the Toronto Stock Exchange.
About Alta Copper
Alta Copper is focused on the development of its 100% owned Cañariaco advanced staged copper project. Cañariaco comprises 91 square km of highly prospective land located 102 km northeast of the City of Chiclayo, Peru, which includes the Cañariaco Norte deposit, the Cañariaco Sur deposit and the Quebrada Verde prospect, all within a 4 km NE-SW trend in northern Peru's prolific mining district. Cañariaco is one of the largest copper deposits in the Americas not held by a major.
The Company's Preliminary Economic Assessment ("PEA"), filed on June 10, 2024 highlights that the Cañariaco Norte deposit has a measured and indicated resource containing 9.3 billion pounds of copper; 2.1 million ounces of gold and 60.4 million ounces of silver within 1.1 billion tonnes with a copper equivalent grade of 0.42% and a further 2.4 billion pounds of copper; 520,000 ounces of gold and 16.9 million ounces of silver within 416 million tonnes with a copper equivalent grade of 0.29%. The PEA also highlights that the Cañariaco Sur deposit has an inferred resource containing 2.5 billion pounds of copper; 1.3 million ounces gold; 17.6 million ounces of silver and 24 million pounds of molybdenum within 474 million tonnes with a copper equivalent grade of 0.29%.
Please refer to the technical report dated June 10, 2024 and titled "NI 43-101 Technical Report on Preliminary Economic Assessment," prepared by Ausenco Engineering Canada ULC available on the Company's website and on SEDAR+ at www.sedarplus.ca under the Company's profile.
This press release contains forward-looking information within the meaning of Canadian securities laws ("forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements, including, but not limited to, statements with respect to the of the Private Placement, the use of proceeds for the Private Placement, the insider participation in the Private Placement and the business plans of the Company, including the drill program. These forward-looking statements are made as of the date of this press release. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors include, among others: the state of the equity financing markets in Canada and other jurisdictions; the receipt of regulatory approvals; fluctuations in metals prices, the actual results of current development activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; accidents, labour disputes and other risks of the mining industry; and delays in obtaining approvals or financing. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
On behalf of the Board of Alta Copper Corp.
"Giulio T. Bonifacio" Executive Chair, CEO and Director
How much did Alta Copper (ATCUF) raise in their May 2025 private placement?
Alta Copper raised Cdn$1,500,000 through a non-brokered private placement, issuing 2,941,176 common shares at Cdn$0.51 per share to Nascent Exploration, a Fortescue Ltd. subsidiary.
What are the resource estimates for Alta Copper's Cañariaco project?
Cañariaco Norte has 9.3 billion pounds of copper, 2.1 million ounces of gold, and 60.4 million ounces of silver in measured and indicated resources. Cañariaco Sur has 2.5 billion pounds of copper, 1.3 million ounces gold, and 17.6 million ounces silver in inferred resources.
Where is Alta Copper's Cañariaco project located?
The Cañariaco project is located 102 km northeast of the City of Chiclayo, Peru, covering 91 square kilometers in northern Peru's mining district.
What approvals does Alta Copper (ATCUF) still need for the Cañariaco project?
Alta Copper needs to secure approvals from both Peru's Ministry of Energy and Mines and the local community to advance the next phase of development for the Cañariaco project.
What is the hold period for the new shares issued in Alta Copper's private placement?
The common shares issued in the private placement are subject to a mandatory four-month and one day hold period, in accordance with securities law.
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