Preliminary Feasibility Study

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Surge Copper Announces Upsize of Private Placement to $10.4 Million
Globenewswireยท 2025-07-09 12:51
Core Viewpoint - Surge Copper Corp. has successfully increased its non-brokered equity financing from approximately $6.4 million to up to $10.4 million due to strong investor demand, with full subscription from both new and existing investors [1] Group 1: Offering Details - The Offering will consist of a LIFE Offering of up to 19.2 million common shares at $0.175 per share for gross proceeds of up to $3.4 million, and a LIFE Charity Flow-Through Offering of up to 9.4 million charity flow-through common shares at $0.265 per share for gross proceeds of up to $2.5 million [7] - A Concurrent Strategic Investment is expected to raise up to $4.5 million through a private placement of up to 25.8 million common shares at $0.175 per share, increasing the strategic investor's ownership to up to 19.9% [7] Group 2: Use of Proceeds - Net proceeds from the Offering will fund engineering, environmental, and early-stage permitting activities at the Berg Project, supporting the completion of a Preliminary Feasibility Study and potential entry into the Environmental Assessment process [2] - A portion of the proceeds will also be allocated for general working capital [2] Group 3: Company Overview - Surge Copper Corp. is advancing a critical metals district in British Columbia, owning a large mineral claim package with multiple advanced porphyry deposits containing copper, molybdenum, gold, and silver [9] - The Company holds a 100% interest in the Berg Project, which has a Preliminary Economic Assessment (PEA) indicating an NPV of C$2.1 billion and an IRR of 20% based on long-term commodity prices [10]