03:36 PM EDT, 10/07/2024 (MT Newswires) -- Arizona Sonoran Copper ( ASCUF ) was at last look down 2.5% on Monday afternoon after it announced that it has filed and been receipted for a final short form prospectus in connection with its bought deal offering of 20.7 million common shares at a price of $1.45 per common share for gross proceeds of $30 million.

A statement noted the company also granted the underwriters an over-allotment option to purchase at the issue price up to an additional 15% of the common shares issued in connection with the offering.

The company's principal asset is the Cactus Project (former ASARCO, Sacaton mine) which is situated in an infrastructure-rich area of Arizona. Contiguous to the Cactus Project is the company's Parks/Salyer deposit that could allow for a phased expansion of the Cactus Mine once it becomes a producing asset.

Price: 1.51, Change: -0.05, Percent Change: -2.90