- Faraday Copper (OTCQX:CPPKF) has entered into an agreement with a syndicate of underwriters by which they have agreed to purchase, on a bought deal basis, 37.5M shares at a price of C$0.80 per share.
- Gross proceeds of C$30M.
- Fort Capital Partners acted as special advisor to the company.
- Underwriters' granted an option to purchase additional 5.63M shares at a price of $0.80 for additional gross proceeds of up to C$4.5M.
- The company intends to use the net proceeds to advance its Copper Creek Project, located in Arizona, U.S., to acquire certain ranching land located adjacent to Copper Creek Project, and for general working capital purposes.