Faraday Copper Completes C$49 Million Financing

Faraday Copper Corp. has successfully closed its brokered and non-brokered financing initiatives, raising an impressive C$48,773,450. The company sold 44,339,500 common shares at C$1.10 per share. The brokered deal was led by Ventum Financial Corp., alongside BMO Nesbitt Burns Inc., Canaccord Genuity Corp., Haywood Securities Inc., and TD Securities Inc.

Exempt from restrictions under Canadian securities laws, the shares were also available to Qualified Institutional Buyers in the U.S., adhering to Rule 144A. The funds will advance Arizona's Copper Creek Project, bolster working capital, and support corporate needs, as per the offering document on Sedar Plus.

The Lundin Family Trusts acquired 9,450,000 shares, making this a "related party transaction" under Multilateral Instrument 61-101, though exempt from further minority shareholder requirements. Approval from the Toronto Stock Exchange is pending.