Copper Giant raising $12 million from upsized financing

Copper Giant Resources Corp. [CGNT-TSXV] said it is upsizing a previously announced private placement financing that is now expected to raise $12 million. That’s up from an earlier $10 million target.

The company said the non-brokered private placement will consist of 30 million units priced at 40 cents per unit. Each unit will consist of one common share and one half of one warrant. Each whole warrant will entitle the holder to purchase one share at an exercise price of 60 cents for 36 months from the closing date.

Copper Giant said it intends to use net proceeds from the offering for working capital and general corporate purposes.

Copper Giant moved lower Wednesday, easing 2.04% or $0.01 to 48 cents. The shares trade in a 52-week range of 51 cents and 14.5 cents.

Copper Giant is an America’s-focused exploration company with a collection of porphyry copper deposits located in British Columbia, Argentina and Colombia.

With backing from financier Frank Giustra’s Fiore Group, Copper Giant is developing the Mocoa copper-molybdenum porphyry deposit, which is located 10 kilometres from the town of Mocoa in Colombia’s Department of Putumayo. The company’s district scale holdings cover 132,499 hectares through granted titles and applications. Company documents say Giustra holds an 11% stake in the company.

In a press release on November 23, 2025, Copper Giant announced an updated Mocoa inferred resource of 1.1 billion tonnes of 0.51% copper equivalent (CuEq) (0.31% copper and 0.039% molybdenum. That amounts to 12.7 billion pounds of CuEq at an average grade of 0.51% CuEq. The company said the latest estimate places Mocoa among the largest undeveloped molybdenum systems globally. Molybdenum is designated as a U.S. critical mineral for its role in high-strength steels, energy infrastructure, and defense applications, with supply concentrated outside of the United States.

The company said the updated estimate incorporates 9,525 metres drilled since an earlier estimate released in 2022, enhanced geological interpretation, updated metallurgical data, and revised long term copper and molybdenum price assumptions. It said two drill rigs continue operating at full capacity as part of a 14,000-metre drill program at Mocoa.

In a subsequent press release on December 11, 2025, the company said it had extended the recently discovered third high-grade zone at Mocoa by 250 metres along strike with drill hole MD-052 intersecting 208 metres of grade 0.68% CuEq (0.47% copper and 0.04% molybdenum) starting at 768 metres, and within a broader interval of 343 metres grading 0.53% CuEq (0.36% copper and 0.03% molybdenum) starting at 692 metres.

The company said the recently discovered high-grade zone remains open laterally and at depth, with targeted step-out drilling planned for the 2026 drilling campaign to continue expanding this zone.