On February 19, 2026, Axo Copper Corp. (“Axo Copper”), a mineral exploration company engaged in exploring for gold and copper, announced the closing of its previously announced bought deal for gross proceeds of approximately C$40,250,000 with a syndicate of underwriters led by Desjardins Capital Markets and BMO Capital Markets, as co-lead underwriters and joint bookrunners, and Stifel Canada.
Axo Copper issued an aggregate of 57,500,000 units at a price of C$0.70 per unit. Each unit consists of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant“). Each Warrant entitles the holder to purchase one common share (a “Warrant Share“) at a price of $1.00 per Warrant Share for a period of 18 months following the closing of the Offering, subject to early exercise. The proceeds are anticipated to be used for the continued advancement of the La Huerta Project and the San Antonio Project, as well as for working capital and general corporate purposes.
Fasken advised Axo Copper with a team led by Bradley Freelan and including Allison Marks, Rohat Jumani, Peter Garrett (Capital Markets and M&A), and Mai Khalife (Articling Student).
Jurisdiction
- Ontario
