Camino arranges C$14.5M in private placements to fund copper projects
What's the deal? CaminoDealroom has a profile for this one. Try Dealroom → has arranged private placements for aggregate gross proceeds of up to C$14.5 million. The financing comprises a brokered offering of up to C$5.04 million in units and a non-brokered offering of up to C$9.5 million in unsecured convertible debentures.
How is it structured? Each unit includes one common share and half a warrant, with each warrant exercisable at C$0.55 for two years. The debentures carry 10% annual interest, mature 36 months after closing and can be converted into common shares at C$0.48 before the fifth anniversary of issuance. Paradigm CapitalDealroom has a profile for this one. Try Dealroom → and Raymond JamesDealroom has a profile for this one. Try Dealroom → are acting as co-lead agents and co-bookrunners for the brokered offering.
What's the endgame? Proceeds from the brokered offering will support cash calls for the Puquios copper project, exploration and drilling at Costa de Cobre in Peru, other Peruvian projects, and general corporate purposes. The debenture proceeds will help satisfy deferred acquisition-related payments, extension fees and an existing term loan.
Why now? Closing remains subject to TSX Venture Exchange approval and is expected on or about 26 August 2026. The company said Santiago Holdco, a significant shareholder, is expected to acquire the convertible debentures.
Read more: Stockwatch
Image credit: Camino
