Surge Copper Announces Closing of First Tranche of $20 Million Private Placement

Core Viewpoint - Surge Copper Corp. has successfully closed the first tranche of a $20 million non-brokered private placement, raising $16 million through the issuance of 32,040,000 units, each consisting of one common share and one common share purchase warrant [1][2]. Group 1: Offering Details - The first tranche of the Offering raised gross proceeds of $16 million, with strong support from existing shareholders and new institutional investors [2]. - The second tranche is expected to consist of approximately $4 million from a strategic investor, pending certain approvals and conditions, and is anticipated to close around March 27, 2026 [2][3]. - 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 [3]. Group 2: Financial and Corporate Information - The Company paid cash finder's fees totaling approximately $39,600 to Canaccord Genuity Corp. in connection with the first tranche of the Offering [4]. - Surge Copper Corp. is advancing the Berg Project, which hosts a large-scale copper-molybdenum-silver deposit, and is conducting a Pre-Feasibility Study to further define its development potential [6]. - The Company controls a large mineral claim package that includes multiple advanced porphyry deposits, positioning it as a contributor to Canada's critical minerals strategy [7].