Surge Copper Announces Closing of $5.9 Million Private Placement and Provides Update on Concurrent Strategic Investment

Core Viewpoint - Surge Copper Corp. has successfully closed a non-brokered private placement, raising approximately $5.9 million through the issuance of common shares and charity flow-through common shares [1][2]. Group 1: Offering Details - The Offering consisted of 19,218,893 common shares priced at $0.175 each and 9,433,963 charity flow-through common shares priced at $0.265 each [1]. - The gross proceeds from the charity flow-through shares will be allocated for exploration expenditures qualifying as "Canadian exploration expenses" and "flow-through critical mineral mining expenditures" before December 31, 2026 [3]. - The net proceeds from the common shares will fund engineering, environmental, and early-stage permitting activities at the Berg Project, supporting the completion of a Preliminary Feasibility Study (PFS) and advancement into the Environmental Assessment (EA) process [4]. Group 2: Insider Participation and Fees - Insiders subscribed for a total of 285,714 common shares, which is classified as a related party transaction [6]. - The company paid cash finder's fees totaling approximately $62,295 to various financial institutions involved in the Offering [5]. Group 3: Concurrent Private Placement - Surge Copper is also conducting a concurrent private placement expected to raise up to $4.5 million, with a significant strategic investor aiming to increase ownership to 19.9% of the company's shares [7].