Pecoy Copper Announces C$49.8 Million Strategic Financing Led by Hudbay Minerals
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Pecoy Copper Corp. (“Pecoy Copper” or the “Company”) (TSXV: PCU; FSE: D5E; OTCQX: PCUUF) is pleased to announce that it has entered into subscription agreements with Hudbay Minerals Inc. (TSX, NYSE: HBM) (“Hudbay”) and an additional strategic investor (the “Strategic Investor” and, together with Hudbay, the “Investors”).
This press release is provided by GlobeNewswire and is published as received.
VANCOUVER, British Columbia, Nov. 02, 2026 (GLOBE NEWSWIRE) -- Pecoy Copper Corp. (“Pecoy Copper” or the “Company”) (TSXV: PCU; FSE: D5E; OTCQX: PCUUF) is pleased to announce that it has entered into subscription agreements with Hudbay Minerals Inc. (TSX, NYSE: HBM) (“Hudbay”) and an additional strategic investor (the “Strategic Investor” and, together with Hudbay, the “Investors”). Under these subscription agreements, subject to the terms and conditions thereof, Hudbay and the Strategic Investor have agreed to subscribe for 14,914,100 and 9,762,425 common shares of the Company (the “Common Shares”), respectively, on a non-brokered private placement basis at a price of C$2.02 per Common Share (the “Issue Price”) for aggregate gross proceeds to the Company of approximately C$49.8 million (the “Private Placement”).
The net proceeds from the Private Placement are expected to be used to advance exploration and development activities at the Company’s flagship Pecoy copper-gold project (“Pecoy” or the “Pecoy Project”) in southern Peru, including ongoing drilling, resource definition and expansion activities, geological and metallurgical studies, and technical work supporting the Company’s planned updated mineral resource estimate, as well as for general corporate and working capital purposes.
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