Faraday Copper raising $45 million from upsized financing
Faraday Copper Corp. [FDY-TSX, CPPKF-OTCQX] is upsizing a previously announced brokered and non brokered financing of common shares that is now expected to generate just over $45 million, up from the earlier $30 million target.
Under the amended terms of the financing, the brokered private placement will consist of 22.7 million common shares on a bought deal private placement basis for $1.10 per share raising gross proceeds of $25 million.
The company will also increase the size of the non-brokered private placement, which will consist of 18.2 million additional common shares at the offering price to raise up to $20 million.
Trusts settled by the late Adolf H. Lundin have indicated their intention to participate in the non-brokered offering. The Lundin Family Trusts are currently the company’s largest shareholder.
In other respects, the terms of the brokered and non-brokered offering remain as previously announced in a news release dated July 14, 2025, when the company said the underwriters had been granted an option to increase the size of the brokered offering by up to an amount that would equal 15% of the total number of shares issued to cover over-allotments, if any. That option is exercisable at any time up to 48 hours prior to closing, which is set to close by July 29, 2025.
Faraday Copper shares were unchanged at $1.19 in early trading Tuesday. The shares currently trade in a 52-week range of $1.23 and 66 cents.
Faraday is a well-funded Canadian exploration company with a focus on its Copper Creek project in Arizona, which it describes as one of the largest undeveloped copper projects in North America with open pit and bulk mining potential.
The property is located in Pinal County less than two hours northeast of Tucson, and in the heart of a major northwest-trending belt, which includes well-known copper mines in the Miami-Globe and Ray mining districts, with a major east-northeast trending copper belt made evident by the former BHP Kalamazoo mine in San Manuel, Arizona.
The exploration site covers 41 square kilometres and has a rich history of exploration and mining across patented and unpatented claims. Copper Creek hosts multiple breccia porphyry copper deposits. Two historic copper and molybdenum mineral resource estimates were prepared in accordance with the Canadian Institute of Mining (CIM) standards, identifying the economic potential for both open pit and underground scenarios.
Total measured and indicated resources (open pit and underground) stand at 355.1 million tonnes of grade 0.50% copper and 0.008% molybdenum and 1.3 g/t silver or 0.53% Copper equivalent (CuEq) or 4,126.3 (Mlbs) CuEq).
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