sur Algo Grande Copper Corp. (CVE:ALGR)
Algo Grande Copper Corp. Announces $3 Million Private Placement for Adelita Project
Algo Grande Copper Corp. announced a private placement of up to 5 million common shares at $0.60 each, aiming to raise $3 million to fund the Adelita Project's Phase II exploration in Sonora, Mexico. The funds will also address operating costs and general working capital.
Recent technical updates show expanding copper mineralization at Cerro Grande, as core samples have been sent for analysis. The offering may include a 6% commission to eligible finders along with purchase warrants, exercisable for 24 months.
The placement is subject to a four-month hold period and requires TSX Venture Exchange approval. Participation by insiders constitutes a related party transaction under Multilateral Instrument 61-101.
CEO Enrico Gay expressed confidence in the project's progress and potential. The securities are not registered for the U.S. market.
R. E.
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