Alta Copper Corp. (ATCUF) has secured a non-brokered private placement with Fortescue Ltd.'s subsidiary to raise CAD$1.5 million. The financing involves selling 2,941,176 common shares at CAD$0.51 per share, with a mandatory 4-month hold period. The proceeds will support working capital needs while advancing their 100% owned Cañariaco copper project in Peru. The project contains significant resources including 9.3 billion pounds of copper, 2.1 million ounces of gold, and 60.4 million ounces of silver in measured and indicated categories. The financing terms are notably favorable, priced above current market value without warrants or fees, minimizing shareholder dilution.
Alta Copper Corp. (ATCUF) ha ottenuto un collocamento privato senza intermediari con una controllata di Fortescue Ltd. per raccogliere 1,5 milioni di CAD. Il finanziamento prevede la vendita di 2.941.176 azioni ordinarie a 0,51 CAD per azione, con un periodo di blocco obbligatorio di 4 mesi. I proventi serviranno a sostenere il capitale circolante e a portare avanti il progetto di rame Cañariaco, di cui detiene il 100%, in Perù. Il progetto vanta risorse significative, tra cui 9,3 miliardi di libbre di rame, 2,1 milioni di once d'oro e 60,4 milioni di once d'argento nelle categorie misurate e indicate. Le condizioni del finanziamento sono particolarmente vantaggiose, con un prezzo superiore al valore di mercato attuale, senza warrant o commissioni, riducendo al minimo la diluizione per gli azionisti.
Alta Copper Corp. (ATCUF) ha asegurado una colocación privada sin intermediarios con una subsidiaria de Fortescue Ltd. para recaudar 1,5 millones de CAD. La financiación implica la venta de 2.941.176 acciones ordinarias a 0,51 CAD por acción, con un período obligatorio de retención de 4 meses. Los fondos se utilizarán para apoyar las necesidades de capital de trabajo mientras avanzan en su proyecto de cobre Cañariaco, 100% propiedad de la empresa, en Perú. El proyecto contiene recursos significativos, incluyendo 9,3 mil millones de libras de cobre, 2,1 millones de onzas de oro y 60,4 millones de onzas de plata en categorías medidas e indicadas. Los términos de la financiación son notablemente favorables, con un precio por encima del valor de mercado actual, sin warrants ni comisiones, minimizando la dilución para los accionistas.
Alta Copper Corp. (ATCUF)는 Fortescue Ltd.의 자회사와 함께 비중개인 사모 배정을 확보하여 150만 캐나다 달러를 조달했습니다. 이번 자금 조달은 1주당 0.51 CAD에 보통주 2,941,176주를 판매하며, 4개월 의무 보유 기간이 적용됩니다. 조달된 자금은 페루에 위치한 100% 소유의 Cañariaco 구리 프로젝트의 운영 자금 지원과 프로젝트 진행에 사용될 예정입니다. 이 프로젝트는 측정 및 표시 자원에 93억 파운드의 구리, 210만 온스의 금, 6,040만 온스의 은을 포함하고 있습니다. 자금 조달 조건은 현재 시장 가치보다 높은 가격에 책정되어 있으며, 워런트나 수수료가 없어 주주 희석을 최소화하는 매우 유리한 조건입니다.
Alta Copper Corp. (ATCUF) a sécurisé un placement privé sans intermédiaire avec une filiale de Fortescue Ltd. pour lever 1,5 million de CAD. Le financement consiste en la vente de 2 941 176 actions ordinaires à 0,51 CAD par action, avec une période de blocage obligatoire de 4 mois. Les fonds serviront à soutenir les besoins en fonds de roulement tout en faisant progresser leur projet de cuivre Cañariaco, détenu à 100 %, au Pérou. Le projet contient d'importantes ressources, notamment 9,3 milliards de livres de cuivre, 2,1 millions d'onces d'or et 60,4 millions d'onces d'argent dans les catégories mesurées et indiquées. Les conditions de financement sont particulièrement avantageuses, avec un prix supérieur à la valeur actuelle du marché, sans bons de souscription ni frais, minimisant la dilution des actionnaires.
Alta Copper Corp. (ATCUF) hat eine nicht vermittelte Privatplatzierung mit einer Tochtergesellschaft von Fortescue Ltd. abgeschlossen, um 1,5 Millionen CAD zu beschaffen. Die Finanzierung umfasst den Verkauf von 2.941.176 Stammaktien zu 0,51 CAD pro Aktie, mit einer verpflichtenden Haltefrist von 4 Monaten. Die Erlöse werden zur Unterstützung des Betriebskapitals verwendet und dienen der Weiterentwicklung des zu 100 % im Besitz befindlichen Kupferprojekts Cañariaco in Peru. Das Projekt verfügt über bedeutende Ressourcen, darunter 9,3 Milliarden Pfund Kupfer, 2,1 Millionen Unzen Gold und 60,4 Millionen Unzen Silber in den Kategorien gemessen und angezeigt. Die Finanzierungsbedingungen sind besonders vorteilhaft, da der Preis über dem aktuellen Marktwert liegt, ohne Warrants oder Gebühren, was die Verwässerung der Aktionäre minimiert.
Positive
Secured CAD$1.5 million financing from largest shareholder Fortescue Ltd.
Financing priced above market value without warrants or fees, minimizing dilution
Project contains substantial resources: 9.3B lbs copper, 2.1M oz gold, 60.4M oz silver
Drilling program remains on schedule
Negative
Additional capital may be needed for future project development
Share dilution, albeit minimal, from the private placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
VANCOUVER, BC / ACCESS Newswire / May 16, 2025 / Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU) ("Alta Copper" or the "Company") is pleased to announce, subject to the approval of the Toronto Stock Exchange, that it has arranged a non-brokered private placement (the "Private Placement") with Nascent Exploration Pty. Ltd., a wholly owned subsidiary of Fortescue Ltd. ("Fortescue") to raise gross proceeds of Cdn.$1,500,000. The Company intends to use the proceeds of the Private Placement for working capital while continuing to advance its 100% owned Cañariaco copper project.
The Private Placement will consist of the sale of 2,941,176 common shares (the "Common Shares") at a price of Cdn$0.51 to raise gross proceeds of approximately Cdn.$1,500,000. The Common Shares will be subject to a mandatory hold period ending four months and one day after issuance, in accordance with applicable securities law. There will be no warrants included in this Private Placement.
Giulio T. Bonifacio, Executive Chair and CEO, commented: "We are extremely pleased with the continued support of our largest shareholder which further validates the investment merits of the Cañariaco copper project which is advancing as planned. This financing arrangement is significantly more favorable to Alta Copper shareholders compared to alternative financing options that were available that would have been priced at a discount to the market inclusive of warrants and fees. The current financing minimizes dilution and is based on price well above our current share price. This financing will provide the necessary working capital prior to commencement of drilling which remains on schedule. We are also making strong progress toward securing the required approvals from both the Ministry of Energy and Mines and the Community."
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.
Cautionary Note Regarding Forward Looking Statements 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
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