AXO Copper Upsizes Bought Deal Financing to $35 Million to Fund Mexican Projects

AXO Copper Corp. ( (TSE:AXO) ) has shared an update.

AXO Copper Corp. has upsized its previously announced bought deal financing to $35 million, agreeing with a syndicate of underwriters led by Desjardins Capital Markets and BMO Capital Markets to issue 50 million units at $0.70 per unit, each comprising one share and half a warrant exercisable at $1.00 for 18 months, with an acceleration clause tied to share price performance. The company has also granted underwriters a 30‑day option to increase the offering by up to 15%, potentially raising total gross proceeds to $40.25 million, and plans to deploy the net funds primarily toward exploration and advancement of its La Huerta and San Antonio projects in Mexico as well as general working capital, reinforcing its capital position to advance its core copper and gold assets pending regulatory and stock exchange approvals.

More about AXO Copper Corp.

AXO Copper Corp. is a Canadian mineral exploration company focused on the exploration and development of 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 operates in the base and precious metals sector, targeting copper and gold projects in Mexico with an emphasis on advancing its key assets through exploration and development work.

Average Trading Volume: 181,126

Technical Sentiment Signal: Strong Buy

Learn more about AXO stock on TipRanks’ Stock Analysis page.