Aztec Minerals Announces Closing of Upsized C$6.4 Million Bought Deal Private Placement Including Concurrent Exercise of Underwriter's Option
Aztec Minerals completes an upsized C$6.4 million bought deal financing to fund exploration at its Tombstone and Cervantes projects.
Rhea-AI Summary
Aztec Minerals (AZZTF) closed an upsized bought deal private placement on September 22, 2026, raising gross proceeds of C$6,403,200. The company issued 20,010,000 units at C$0.32 per unit, each unit consisting of one common share and one-half warrant, with each whole warrant exercisable at C$0.42 for 24 months. The closing includes the full exercise of the underwriter’s 15% option. Stifel Canada acted as sole underwriter and received a 6% cash commission of C$316,992 and 990,600 broker warrants exercisable at C$0.32 until September 22, 2028. Securities issued are subject to a four-month-and-one-day hold period under Canadian securities laws, and net proceeds are earmarked for exploration at the Tombstone and Cervantes projects and for working capital.
Positive
- Gross proceeds of C$6,403,200 raised through the bought deal private placement
- Underwriter’s 15% option fully exercised, increasing the size of the offering
- Financing terms add 20,010,000 new units with warrants to attract investor participation
Negative
- Equity financing issues 20,010,000 new shares plus 10,005,000 warrants, creating potential dilution
- Underwriter compensation of C$316,992 cash commission plus 990,600 broker warrants adds to financing cost
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / September 22, 2026 / Aztec Minerals Corp. (TSX-V:AZT)(OTCQB:AZZTF) ("Aztec" or the "Company") is pleased to announce, further to its news releases dated September 2, 2026 and September 3, 2026, the closing of its previously announced "bought deal" private placement offering (the "Offering") for aggregate gross proceeds of C
Each Unit is comprised of one common share of the Company (each a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share (each a "Warrant Share") at a price of C
In connection with the Offering, the Company paid the Underwriter a cash commission of C
The Company intends to use the net proceeds to conduct exploration work on its Tombstone gold-silver & CRD silver-lead-zinc-copper-gold project in Arizona, USA, and its Cervantes gold-copper project in Sonora, Mexico, as well as for general working capital purposes.
The Common Shares and Warrants comprising the Units, Warrant Shares, Broker Warrants and Broker Warrant Shares are subject to a hold period of four months and one day from the closing date of the Offering in accordance with applicable Canadian securities laws.
No U.S. Offering or Registration
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About Aztec Minerals - Aztec is a mineral exploration company focused on two emerging discoveries in North America. The Cervantes project is an emerging porphyry gold-copper discovery in Sonora, Mexico. The Tombstone project is an emerging gold-silver discovery with high grade CRD silver-lead-zinc potential in southern Arizona. Aztec's shares trade on the TSX-V stock exchange (symbol AZT) and on the OTCQB (symbol AZZTF).
Contact Information - For more information, please contact:
Simon Dyakowski, President & CEO, Director
Tel: (604) 685-9770
Fax: (604) 685-9744
Email: info@aztecminerals.com
Website: www.aztecminerals.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-Looking Information:
Statements contained herein, other than historical fact, may be considered "forward-looking information" within the meaning of applicable securities laws. Forward-looking information can be identified by words such as, without limitation, "estimate", "project", "believe", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" or variations thereon or comparable terminology. The forward-looking information contained herein is based on the Company's plans and expectations and assumptions as of the date such statements are made and includes information concerning the use of proceeds from the Offering. Such forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking information, including, without limitation, the receipt of final approval from the TSX Venture Exchange in respect of the Offering and the timing thereof and such other risks and uncertainties as disclosed in the Company's public disclosure filings on SEDAR+ at www.sedarplus.ca. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available and is included for the purposes of providing investors with information concerning the Offering and related matters, and may not be appropriate for other purposes. Aztec does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE: Aztec Minerals Corp.
View the original press release on ACCESS Newswire
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What are the detailed terms of the Units and Warrants issued in Aztec Minerals’ financing?
Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole Warrant allows the holder to buy one additional common share at an exercise price of C$0.42 for a period of 24 months from the closing date. All common shares, warrants and underlying shares are subject to a hold period of four months and one day from closing under applicable Canadian securities laws.
What are the terms of the broker warrants granted to Stifel Canada?
Aztec Minerals issued 990,600 broker warrants to the underwriter, equal to 6% of the number of Units sold (excluding certain subscribers). Each broker warrant entitles the holder to acquire one common share at the Issue Price of C$0.32 at any time on or before September 22, 2028.
How does the announcement address U.S. investors and securities law restrictions?
The company states that this news release does not constitute an offer or solicitation in any jurisdiction where it would be unlawful, including the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 or state securities laws and may not be offered or sold in the United States or to U.S. Persons unless registered or an exemption from registration is available.