00:12:55 EST Tue 24 Feb 2026
Enter Symbol
or Name
USA
CA



Faraday Copper Corp
Symbol FDY
Shares Issued 254,366,075
Close 2026-02-23 C$ 4.54
Market Cap C$ 1,154,821,981
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Faraday Copper arranges $100-million placement

2026-02-23 16:53 ET - News Release

Ms. Stacey Pavlova reports

FARADAY COPPER ANNOUNCES UP TO C$100 MILLION PRIVATE PLACEMENT WITH PARTICIPATION BY THE LUNDIN FAMILY TRUST AND BHP

Faraday Copper Corp. has arranged a non-brokered private placement financing for aggregate gross proceeds of up to $100,002,000 from strategic and other investors, including Lundin Family Trusts (as defined below) and a wholly owned subsidiary of BHP Group Ltd. The company intends to use the net proceeds from the offering primarily for the continuing advancement of copper projects in Pinal county, Arizona, including transaction expenses in connection with the planned acquisition and integration of the San Manuel property from BHP (see news release dated Feb. 20, 2026).

Under the terms of the offering, the company intends to issue up to 23.81 million common shares at a price of $4.20 per common share for aggregate gross proceeds of $100,002,000.

The private placement is scheduled to close on or about March 11, 2026, and will be subject to regulatory approval, including the approval of the Toronto Stock Exchange (the TSX) and other customary closing conditions for a transaction of this nature including, but not limited to, execution of subscription agreements between the company and the subscribers.

The common shares will be issued on a private placement basis pursuant to exemptions from prospectus requirements under applicable securities laws and will be subject to a statutory hold period of four months and one day from the date of issuance.

Trusts settled by the late Adolf H. Lundin have indicated their intention to participate in the offering. Any such participation would be considered to be a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, as a private entity controlled by the Lundin Family Trusts is currently the company's largest shareholder. The company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any common shares issued to or the consideration paid by such persons will exceed 25 per cent of the company's market capitalization.

About Faraday Copper Corp.

Faraday Copper is an exploration company focused on advancing its flagship copper project in Arizona, United States. The Copper Creek project is one of the largest undeveloped copper projects in North America with significant district-scale exploration potential. Faraday is well financed to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise. Faraday trades on the Toronto Stock Exchange under the symbol FDY.

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