Coyote Copper upsizes non-brokered financing to $7.0 million

Coyote Copper Mines Inc. [CCMM-TSXV] said it is upsizing a previously announced non-brokered financing to $7.0 million, up from the earlier $5.0 million target.

The company, which is engaged in copper exploration in Arizona, said it will issue up to 28 million units to be issued at 25 cents per unit, with each unit consisting of one fully-paid and non-accessible common share and one half of a common share purchase warrant. Two half warrants will entitle the holder to purchase one common share. Each warrant will expire 36 months from the date of issue and will entitle the holder to purchase one common share for 50 cents per warrant share within 36 months from the date of issue.

Closing of the first tranche of the offering is expected to occur on or before May 28, or such other date as the company may determine and is subject to Exchange approval.

Coyote Copper was created through the reverse takeover of Goal Capital Corp. and Copper Bullet Mines Inc. The shares began trading on April 13, 2026.

On Monday, the shares eased 4.16% or $0.01 to 23 cents, and trade in a 52-week range of 35.5 cents and 18.5 cents.

The company said it has acquired, through staking and option, a significant land package in the heart of Arizona’s Copper Triangle. The Copper Springs project covers 3,600 hectares and contains a historic resource of 47 million tons of 0.4% copper that is not compliant with current NI 43-101 standards of disclosure. It abuts the eastern boundary of the claim block held by Rio Tinto Group [RIO-NYSE] and BHP Group Limited [BHP-NYSE], which hosts the Resolution Copper Project.

The company said Copper Springs has been the target of more than 100 historic drill holes. It said the historic resource is one of multiple exploration targets located across the property and represents approximately 10% of the historic supergene oxide blanket footprint which was defined by wide spaced drilling in the 1960s.

A 2025 NI 43-101-compliant technical report outlines a phased exploration program of surface sampling, geophysics and drilling which is designed to modernize the non-compliant historic resource, as well as potentially upgrading and expanding the mineralized areas.

In a press release on May 12, 2026, the company reported the completion and preliminary interpretation of its integrated geophysical and hyperspectral program at the Copper Springs and Gibson claim packages.

“The results collectively point towards the potential presence of a large, well-developed porphyry copper system, with geophysical signatures that may exceed the scale typically observed in comparable global deposits,” the company said. “This work completes a major component of Coyote’s 2026 exploration plan, which included drone magnetics, hyperspectral satellite imaging, CSEM, MT, 3D IP surveys, and soil geochemistry, was well as mapping, sampling and relogging of historical drill core.