Faraday Copper secures C$30 million to advance its Copper Creek Project through brokered and non-brokered private placements, including strategic backing.
Faraday Copper Corp. has unveiled plans to raise up to C$30 million through a combination of brokered and non-brokered private placements. The funds will be directed toward advancing the company’s flagship Copper Creek Project located in Arizona, USA. The financing effort includes participation from both strategic and institutional investors, prominently featuring the Lundin Family Trusts, underscoring strong support from key industry players.
As part of the financing strategy, Faraday Copper has entered into an agreement with Ventum Financial Corp., which will act as the lead underwriter and sole bookrunner. Ventum, along with a syndicate of underwriters (collectively referred to as the “Underwriters”), has agreed to purchase 13,636,400 common shares of the company in a “bought deal” private placement. These shares will be sold at a price of C$1.10 each, bringing in gross proceeds of approximately C$15 million through the brokered portion of the offering.
This brokered offering will be conducted under the “listed issuer financing exemption” as outlined in Part 5A of National Instrument 45-106 – Prospectus Exemptions (NI 45-106), and as modified by Coordinated Blanket Order 45-935. Under this exemption, the shares will be available to investors across Canadian provinces and territories, excluding Québec, and will not be subject to statutory holding periods. An official offering document has been made available under Faraday Copper’s issuer profile and must be reviewed by prospective investors prior to making any investment decisions.
The common shares may also be sold to U.S. investors and in other jurisdictions outside of Canada, subject to applicable securities regulations and exemptions, including those under the U.S. Securities Act of 1933.
In addition, the company has granted the Underwriters an option—referred to as the "Underwriters’ Option"—to increase the size of the brokered offering by up to 15%, should there be excess demand. This option can be exercised any time up to 48 hours before the closing of the offering. For their role, the Underwriters will be compensated with a cash fee equal to 5% of the gross proceeds, including any additional funds raised from the Underwriters’ Option.
Faraday Copper has indicated that the proceeds from this financing will be used primarily for the ongoing exploration and development of its Copper Creek Project, as well as for general corporate and working capital needs.
The closing of the brokered offering is expected to take place on or around July 29, 2025. Completion is contingent on receiving all necessary regulatory and exchange approvals, including that of the Toronto Stock Exchange.
