08:51 AM EST, 11/12/2025 (MT Newswires) -- Arizona Sonoran Copper Company ( ASCUF ) on Wednesday said it entered into an agreement with Canaccord Genuity on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to buy, on a bought-deal private placement basis, certain units for proceeds of $75 million.

The company said the offering consists of the issuance of 22.4-million common shares at $3.35 apiece. It also granted the underwriters an option to buy up to an additional 3.4-million common shares at $3.35 for additional proceeds of up to $11.2 million.

Proceeds will be used for early development activities at its Cactus project, and for working capital and general corporate needs. Closing of the offering is expected on or about Dec. 2, 2025.

Shares of the company closed up 0.8% to $3.62 on Tuesday on the Toronto Stock Exchange.