Algo Grande Copper Upsizes Private Placement to Fund Adelita Exploration Push

Kenadyr Metals ( (TSE:ALGR) ) has issued an update.

Algo Grande Copper has increased the size of its previously announced non-brokered private placement of common shares in response to strong investor demand, raising the maximum proceeds from $5 million to up to $7 million through the issuance of up to 10,769,231 shares at $0.65 each. The company may pay eligible finders a 7% cash commission and issue corresponding finder warrants, while Canaccord Genuity will receive a $50,000 corporate finance fee, potentially payable in shares.

Net proceeds will be directed primarily to Phase II drilling and broader exploration at the 100%-owned Adelita Project, including expansion drilling at the Cerro Grande skarn and first-pass drilling along a six-kilometre limestone corridor of undrilled skarn targets. The financing is subject to customary approvals, including from the TSX Venture Exchange, and will also support operating costs and working capital, reinforcing Algo Grande’s efforts to advance its flagship copper-gold-silver asset in the Arizona-Sonora belt.

More about Kenadyr Metals

Algo Grande Copper Corp. is a growth-focused mineral exploration company operating in the prolific Arizona-Sonora copper belt, where it is advancing the district-scale Adelita copper-gold-silver project in Sonora, Mexico. The 5,895-hectare Adelita Project is anchored by the high-grade Cerro Grande Cu-Au-Ag skarn discovery, which shows strong continuity along a defined six-kilometre corridor and is being advanced through data-driven exploration aimed at creating shareholder value.

Average Trading Volume: 95,934

Technical Sentiment Signal: Buy

Current Market Cap: C$23.13M

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