Faraday Copper Corp. ($FDY) is excited to share that it is undertaking a non-brokered private placement financing aimed at generating aggregate gross proceeds of up to C$100,002,000. This Offering will be supported by strategic investors, including the Lundin Family Trusts and a subsidiary of BHP Group Limited.
The funds raised will primarily be allocated towards advancing copper projects in Pinal County, Arizona, particularly for the acquisition and integration of the San Manuel property from BHP, as previously announced on February 20, 2026.
According to the Offering terms, Faraday plans to issue up to 23,810,000 common shares at a price of C$4.20 each, which will yield total gross proceeds of C$100,002,000.
The Private Placement is anticipated to close on or about March 11, 2026, pending regulatory approval from the Toronto Stock Exchange (TSX) and customary closing conditions, including the execution of subscription agreements.
These Common Shares will be issued in accordance with exemptions from the prospectus requirements under applicable securities laws and will be subject to a statutory hold period of four months and one day post-issuance.
The Lundin Family Trusts have expressed their intention to participate in this Offering. This involvement will be classified as a related party transaction under Multilateral Instrument 61-101, as the Lundin Family Trusts currently hold a significant stake in the company. Faraday intends to utilize exemptions from formal valuation and minority shareholder approval, given that the shares issued will not surpass 25% of the Company's market capitalization.
It is important to note that the securities offered in this Offering have not been, and will not be, registered under the U.S. Securities Act, and cannot be sold within the United States or to U.S. persons without appropriate registration or exemptions. This announcement does not constitute an offer to sell or a solicitation to buy securities in the United States.
Faraday Copper is committed to advancing its flagship copper project, the Copper Creek Project, which is recognized as one of the largest undeveloped copper projects in North America, showcasing significant exploration potential. The company is well-positioned to achieve its key milestones, supported by a management team with extensive experience in the mining sector. Trades on the TSX under the symbol 'FDY'.
For more information, please contact Stacey Pavlova, CFA, Vice President of Investor Relations & Communications at Faraday Copper Corp. via email at info@faradaycopper.com. Visit www.faradaycopper.com for further updates and to register for news releases.
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