Surge Copper Announces Upsize of Private Placement to $20 Million

Core Viewpoint - Surge Copper Corp. has increased the size of its non-brokered private placement to $20 million, reflecting strong demand and financial strength for advancing its projects [1][2]. Group 1: Offering Details - The Offering will consist of 40 million units priced at $0.50 per unit, aiming for gross proceeds of $20 million [1]. - The Offering is expected to close on or about February 26, 2026, and may be completed in one or more tranches, subject to regulatory approvals [4]. - The company may pay finders cash fees of 6% of eligible funds raised under the Offering at its discretion [5]. Group 2: Use of Proceeds - Net proceeds from the Offering are anticipated to be used for advancing mineral exploration and development projects, including the Berg and Ootsa projects, as well as for working capital and general corporate purposes [3]. Group 3: Strategic Investor Participation - A strategic investor has the right to participate in the Offering to maintain its ownership interest, subject to regulatory limits and approvals [2]. - The gross proceeds assume full exercise of this participation right by the strategic investor [2]. Group 4: Company Overview - Surge Copper Corp. is advancing the Berg Project, which hosts a large-scale copper-molybdenum-silver deposit with strong development potential [7]. - 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 [8].