HALIFAX, Nova Scotia, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Axo Copper Corp. (TSXV:AXO) ("Axo Copper" or the "Company") is pleased to announce that it has closed its previously announced and upsized bought deal offering (the "Offering") of units of the Company (the "Units") with a syndicate of underwriters. Following the full exercise of the over-allotment option, an aggregate of 57,500,000 Units were sold at a price of $0.70 per Unit (the "Offered Price") for gross proceeds to the Company of $40,250,000. Each Unit is comprised of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share (a "Warrant Share") at a price of $1.00 per Warrant Share for a period of 18 months following the closing of the Offering, subject to acceleration. The Company intends to use the proceeds of the Offering to continue the advancement of both the La Huerta Project and San Antonio Project, as well as for working capital and general corporate purposes.
The Offering was completed by a syndicate of underwriters led by Desjardins Capital Markets ("Desjardins") and BMO Capital Markets (together with Desjardins, the "Co-Lead Underwriters") as co-lead underwriters and joint bookrunners, and Stifel Canada (together with the Co-Lead Underwriters, the "Underwriters"). The Underwriters were paid a cash commission of 6.0% on the gross proceeds of the Offering.
Within five business days following the date hereof, the Company shall issue 2,363,516 Common Shares to Osisko Development Corp. ("ODV") and 1,180,575 Common Shares to OR Royalties International Ltd. ("OR"), pursuant to a securities purchase agreement ...
