Surge Copper Raises $14.0 Million In Bought Deal Financing

Surge Copper Corp. (TSXV: SURG) today announced the closing of the company’s previously announced bought deal private placement. This latest round of financing brought the company gross proceeds of $14,014,125.

The bought deal private placement consisted of 4,445,000 units, which were sold at a price of $0.45 per unit. Further to this, 11,325,000 flow-through units were sold at $0.53 per unit, along with 9,775,000 charity flow-through units sold at $0.615.

Each unit consisted of one common share of Surge Copper paired with one half of a common share purchase warrant. Each flow through unit comprises one flow-through common share and a half warrant issued on a flow-through basis. Each charity flow through consists of one charity flow-through common share and a half warrant issued on a flow-through basis. The warrants issued are exercisable for a twenty-four-month period after the closing of the offering, at a price of $0.60 per warrant.

Sponsored · Altamira Gold Corp.

Proceeds from the offering are to be used for working capital purposes, general corporate purposes, and exploration expenditures.

Surge Copper Corp. last traded on the TSX Venture at $0.41.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.