Axo Copper Raises $40.25 Million to Advance Mexican Copper-Gold Projects

AXO Copper Corp. ( (TSE:AXO) ) just unveiled an announcement.

Axo Copper Corp. has closed an upsized bought deal financing, raising gross proceeds of $40.25 million through the sale of 57.5 million units at $0.70 each, with each unit including one common share and a half warrant exercisable at $1.00. The company plans to deploy the funds to advance its La Huerta and San Antonio projects in Mexico, while additional share issuances will maintain Osisko Development and OR Royalties’ existing stakes and the new securities await final TSX Venture Exchange acceptance.

The financing was led by Desjardins Capital Markets and BMO Capital Markets, with Stifel Canada also acting as an underwriter, and the syndicate received a 6% cash commission on the gross proceeds. By strengthening its balance sheet and securing continued backing from key strategic investors, Axo Copper enhances its ability to progress exploration and development work at its flagship copper and gold properties, potentially improving its competitive position in the junior mining sector.

More about AXO Copper Corp.

Axo Copper Corp. is a Canadian mineral exploration company focused on the La Huerta copper discovery in Jalisco, Mexico, and the San Antonio gold property, a past-producing oxide copper mine in Sonora, Mexico. The company is advancing these Mexican assets as core projects in its portfolio of copper and gold exploration and development opportunities.

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