Faraday Copper Secures C$20M in Financing

Faraday Copper (TSE:FDY) has released an update.

Faraday Copper Corp. is set to strengthen its financial position through a C$20 million bought deal financing, underwritten by a syndicate including Ventum Financial Corp, Canaccord Genuity Corp., and TD Securities Inc. The deal involves the sale of 25 million common shares at C$0.80 each, with an option for underwriters to purchase an additional 3.75 million shares. The proceeds are earmarked for the exploration and development of Faraday’s Copper Creek Project in Arizona, as well as for general working capital.

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