Algo Grande Copper upsizes private placement to $5M for Sonora drilling

Algo Grande Copper Corp. has increased the maximum gross proceeds of its non-brokered private placement from $3,000,000 to up to $5,000,000. The decision to upsize the offering follows strong investor demand.

The company intends to issue up to 8,333,333 common shares at a price of $0.60 per share. Net proceeds are earmarked to fund ongoing drilling and exploration activities at the company’s 100%-owned Adelita Project located in Sonora, as well as to cover operating costs and general working capital requirements.

Eligible finders may receive a 6% cash commission and 6% in finder warrants, which allow for the acquisition of shares at an exercise price of $0.75 for 24 months. The offering remains subject to approval from the TSX Venture Exchange and other necessary regulatory conditions.