Surge Copper Announces $15 Million Private Placement to Advance Berg Project

Core Viewpoint - Surge Copper Corp. is initiating a non-brokered private placement of 30 million units at a price of $0.50 per unit, aiming for gross proceeds of $15 million to support its mineral exploration and development projects [1][5]. Group 1: Offering Details - Each unit consists of one common share and one non-transferable common share purchase warrant, with the warrant allowing the purchase of an additional common share at an exercise price of $1.00 for three years [2]. - The warrants include an acceleration provision, allowing the company to shorten the expiry date if the common shares trade at a volume-weighted average price of $1.50 or greater for 20 consecutive trading days [3]. - The offering is expected to close around February 26, 2026, and may be completed in multiple tranches, subject to regulatory approvals [6]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to advancing mineral exploration and development projects, including the Berg and Ootsa projects, as well as for working capital and general corporate purposes [5]. Group 3: Strategic Investor Participation - A strategic investor has the right to participate in the offering to maintain its ownership interest, with the gross proceeds assuming full exercise of this right, subject to regulatory approvals [4]. - Any warrants issued to the strategic investor will have restrictions to prevent ownership from exceeding 19.9% of the outstanding common shares [4]. Group 4: Company Overview - Surge Copper Corp. is focused on advancing the Berg Project, which hosts a significant copper-molybdenum-silver deposit, and is progressing towards a Pre-Feasibility Study to define its development potential [8][9]. - The company also controls a large mineral claim package that includes multiple advanced porphyry deposits, positioning it as a contributor to Canada's critical minerals strategy [10].