Pecoy Copper to Raise CA$49.8 Million Via Private Placement Led by Hudbay Minerals

MT newswire2026/11/02 11:13

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07:13 AM EST, 11/02/2026 (MT Newswires) -- Pecoy Copper (PCU.V) entered into subscription agreements with Hudbay Minerals (HBM.TO, HBM) and an additional strategic investor to raise about CA$49.8 million, it said in a statement on Monday. Hudbay and the strategic investor agreed to subscribe for 14.9-million and 9.8-million common shares, respectively, on a non-brokered private placement basis at CA$2.02 apiece. Hudbay will invest about CA$30.1 million and the strategic investor will invest about CA$19.7 million, it said. Proceeds will be used to advance exploration and development activities at its flagship Pecoy copper-gold project in southern Peru, and for general corporate and working capital needs. The company expects each of Hudbay and the strategic investor to hold about 9.99% of the issued and outstanding common shares of Pecoy, following the private placement. Shares of the company closed down 0.6% to CA$1.82 on Friday on the TSX Venture Exchange.

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