05:25 PM EDT, 07/14/2025 (MT Newswires) -- Faraday Copper ( CPPKF ) after trade on Monday said it will raise up to $30 million in a concurrent bought-deal and non-brokered private placement of shares.

The company is selling an underwriting syndicate 13.64-million shares priced at $1.10 each to raise $15 million, while also offering an equal number of shares at the same price in the non-brokered placement. However the bought deal includes an over-allotment option of 15%.

Proceeds from both offerings will be used for exploration and development of its Copper Creek Project in Arizona and for working capital.

Faraday shares closed up $0.05 to $1.19 on the Toronto Stock Exchange.