Alta Copper Announces Non-Brokered Financing With Fortescue Ltd.
Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF) has arranged a non-brokered private placement with Fortescue 's subsidiary to raise Cdn.$2,500,000. The placement involves selling 4,629,630 common shares at Cdn$0.54 per share. Proceeds will be used for working capital and advancing the 100% owned Cañariaco copper project in Peru. This financing will increase Fortescue's ownership to 34%. Alta Copper's CEO, Giulio T. Bonifacio, stated that this financing option was superior to alternatives, resulting in dilution. The funding will support the company's drill permit application and community engagement efforts.
Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF) ha organizzato un collocamento privato non mediato con una sussidiaria di Fortescue per raccogliere 2.500.000 Cdn.$. Il collocamento prevede la vendita di 4.629.630 azioni ordinarie a 0,54 Cdn$ per azione. I proventi saranno utilizzati per il capitale circolante e per promuovere il progetto minerario di rame Cañariaco, di proprietà al 100% in Perù. Questo finanziamento aumenterà la partecipazione di Fortescue al 34%. Il CEO di Alta Copper, Giulio T. Bonifacio, ha dichiarato che questa opzione di finanziamento era superiore alle alternative, evitando la diluizione. I fondi sosterranno la domanda di permesso di perforazione della società e gli sforzi di coinvolgimento della comunità.
Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF) ha organizado una colocación privada no mediada con una subsidiaria de Fortescue para recaudar Cdn.$2,500,000. La colocación implica la venta de 4,629,630 acciones ordinarias a Cdn$0.54 por acción. Los ingresos se utilizarán para capital de trabajo y para avanzar en el proyecto de cobre Cañariaco, de propiedad al 100% en Perú. Este financiamiento aumentará la participación de Fortescue al 34%. El CEO de Alta Copper, Giulio T. Bonifacio, declaró que esta opción de financiamiento era superior a otras alternativas, evitando la dilución. La financiación apoyará la solicitud de permiso de perforación de la empresa y los esfuerzos de participación comunitaria.
알타 구리 주식회사(주식 코드: ATCU)(OTCQX: ATCUF)는 포르테스큐의 자회사와 함께 비중개 사모 배급을 통해 2,500,000 캐나다 달러를 모금하기로 했습니다. 이 배급은 4,629,630주의 일반 주식을 주당 0.54 캐나다 달러에 판매하는 것을 포함합니다. 수익금은 운영 자본과 페루에 있는 100% 소유의 카나리아코 구리 프로젝트를 진전시키는 데 사용될 것입니다. 이번 자금 조달로 포르테스큐의 지분이 34%로 증가할 것입니다. 알타 구리의 CEO인 줄리오 T. 보니파시오는 이 자금 조달 옵션이 다른 대안보다 우수하다고 밝혔으며, 희석을 피할 수 있었습니다. 이 자금은 회사의 시추 허가 신청 및 지역 사회 참여 노력을 지원할 것입니다.
Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF) a organisé un placement privé sans courtier avec une filiale de Fortescue pour lever 2.500.000 Cdn.$. Le placement implique la vente de 4.629.630 actions ordinaires à 0,54 Cdn$ par action. Les produits seront utilisés pour le fonds de roulement et pour faire avancer le projet de cuivre Cañariaco, détenu à 100% au Pérou. Ce financement augmentera la participation de Fortescue à 34%. Le PDG d'Alta Copper, Giulio T. Bonifacio, a déclaré que cette option de financement était supérieure aux alternatives, évitant ainsi la dilution. Le financement soutiendra la demande de permis de forage de l'entreprise et les efforts d'engagement communautaire.
Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF) hat eine nicht vermittelte Privatplatzierung mit einer Tochtergesellschaft von Fortescue organisiert, um 2.500.000 Cdn.$ aufzubringen. Die Platzierung umfasst den Verkauf von 4.629.630 Stammaktien zu einem Preis von 0,54 Cdn$ pro Aktie. Die Einnahmen werden für das Betriebskapital und zur Förderung des 100% im Besitz befindlichen Cañariaco Kupferprojekts in Peru verwendet. Diese Finanzierung wird den Anteil von Fortescue auf 34% erhöhen. Der CEO von Alta Copper, Giulio T. Bonifacio, erklärte, dass diese Finanzierungsoption überlegen sei im Vergleich zu Alternativen, da sie eine Verdünnung vermeide. Die Mittel werden den Antrag auf Bohrgenehmigung der Gesellschaft und die Bemühungen um Gemeinschaftsbeteiligung unterstützen.
- Raised Cdn.$2,500,000 through non-brokered private placement
- Share price of Cdn$0.54 is above recent market close
- Fortescue's ownership increases to 34%, showing continued support from largest shareholder
- dilution compared to alternative financing options
- Funds to be used for advancing Cañariaco copper project and working capital
- Potential dilution for existing shareholders due to issuance of new shares
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
VANCOUVER, BC / ACCESSWIRE / September 11, 2024 / 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.
The Private Placement will consist of the sale of 4,629,630 common shares (the "Common Shares") at a price of Cdn
Giulio T. Bonifacio, Executive Chair and CEO, commented: "We are pleased with the continued support of our largest shareholder which further validates the investment merits of our Cañariaco copper project. Although the context of capital markets for financing continue to remain challenging this financing was considered superior to alternative financing options available that would have been priced at a discount to the market inclusive of warrants and fees. The current financing will result in limited dilution and based on pricing, which is above the recent market close, Fortescue's share ownership will increase to
About Alta Copper
Alta Copper is focused on the development of its
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
For further information please contact:
Giulio T. Bonifacio
gtbonifacio@altacopper.com
+1 604 318 6760
Email: info@altacopper.com
Website: www.altacopper.com
Twitter: https://twitter.com/Alta_Copper
LinkedIn: https://www.linkedin.com/company/altacopper/
Facebook: https://www.facebook.com/AltaCopperCorp
Instagram: https://www.instagram.com/altacopper/
YouTube: https://www.youtube.com/@AltaCopper
SOURCE: Alta Copper Corp.
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FAQ
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