Algo Grande Copper Expands Private Placement Offering

Algo Grande Copper Corp. has announced an increase in its non-brokered private placement of common shares due to strong investor demand. The Upsized Offering raises potential gross proceeds from $5 million to $7 million. It will involve the issuance of up to 10,769,231 shares at $0.65 each.

The capital raised will fund exploration and Phase II drilling at the company's Adelita Project in Sonora, Mexico. This follows initial drilling at Cerro Grande which revealed multiple skarn horizons. The new program aims to extend drilling at Cerro Grande and explore a 6-km limestone corridor with undrilled skarn targets.

In addition to cash commissions for eligible finders, Algo Grande appointed Canaccord Genuity Corp. as its financial advisor for the offering. The transaction awaits necessary approvals, with securities under a four-month hold period post-closing.