04:59 PM EDT, 09/04/2025 (MT Newswires) -- Marimaca Copper ( MARIF ) , a copper exploration and development company, announced late Thursday that it'll be conducting an A$80 million brokered private placement in Australia and select jurisdictions outside of Australia, excluding Canada.

The placement consists of 8,376,964 Chess Depositary Interests priced at A$9.55 per CDI, with proceeds earmarked for detailed design and engineering at the Marimaca Oxide Deposit, exploration at Pampa Medina and the Marimaca sulphide target, and general corporate purposes.

Hayden Locke, president and CEO, said, "We are very pleased to see strong support from high-quality investors for the next phase of our development and exploration plans at Marimaca and Pampa Medina. This raise will allow us to move expeditiously into the detailed design and engineering phase at the MOD, as well as expand the exploration program at both Pampa Medina and the Marimaca sulphides exploration target. The recent MOD Definitive Feasibility Study demonstrated a very robust starting-point in our overall regional development goals and we are grateful for the continued support to deliver on that strategy."

Shares of Marimaca Copper ( MARIF ) were last seen up $0.10 to $10.11 on the TSX.