- Surge Copper (SURG) has upsized its non-brokered private placement from $1.25 million to approximately $3.9 million
- The offering will now consist of approximately 11.5 million units offered at $0.13 per unit and approximately 11.1 million charity flow-through units offered at $0.215 per Charity FT unit
- Surge Copper is a Canadian company advancing an emerging critical metals district in British Columbia, Canada
- Surge Copper Corp. (SURG) opened trading at C$0.15 per share
Surge Copper (SURG) has upsized its previously announced non-brokered private placement to approximately $3.9 million.
The offering will now consist of approximately 11.5 million units offered at $0.13 per unit and approximately 11.1 million charity flow-through units offered at $0.215 per Charity FT unit.
Each unit will comprise one common share and one-half of one transferrable common share purchase warrant. Each Charity FT unit will consist of one charity flow-through common share and one-half of a warrant to be issued on a non-flow-through basis. Each warrant is exercisable into one additional common share for twelve months from closing at $0.20 per warrant.
The company intends to use the net proceeds for the completion of a Preliminary Economic Assessment of the Berg Project and working capital and general corporate purposes.
Total gross proceeds raised from the Charity FT units will be used before 2025 for general exploration expenditures.
The offering is scheduled to close on or about February 2, 2023.
The units and Charity FT units offered under the Listed Issuer Financing Exemption will not be subject to a hold period.
The company may pay a finder’s fee of up to six per cent in cash.
Surge Copper is a Canadian company advancing an emerging critical metals district in British Columbia, Canada. It engages in the acquisition, exploration, and development of mineral properties focusing on copper, gold, silver, and molybdenum prospects.
Surge Copper Corp. (SURG) opened trading at C$0.15 per share.