Irruptive Metals upsizes financing to $50 million for Chilean copper-gold project

Irruptive Metals Corp. has increased the target of its previously announced bought deal financing to $50 million, up from an initial $30 million. The private placement consists of 40 million units priced at $1.25 per unit. Each unit includes one common share and one half of a common share purchase warrant, with warrants exercisable at $1.65 for 24 months.

The company intends to use the proceeds to advance its Pimenton copper-gold project in Chile, as well as for working capital and general corporate purposes. The Pimenton project is located within a prolific porphyry copper-gold belt and has undergone historical exploration by major mining firms.

Underwriters have an option to purchase up to an additional 8 million units, which could raise the total proceeds by up to $10 million. The transaction is expected to close by September 10, 2026, subject to regulatory approvals, including consent from the TSX Venture Exchange.