Pecoy Copper (TSXV: PCU) has entered into subscription agreements with Hudbay Minerals and an additional strategic investor to raise approximately C$49.8 million in gross proceeds at C$2.02 per share. Hudbay will subscribe for 14,914,100 shares (about C$30.1 million) and the strategic investor for 9,762,425 shares (about C$19.7 million), at a 10% premium to the 10-day VWAP on the TSXV as of October 30, 2026. Each investor is expected to hold about 9.99% of the outstanding shares after closing, and Hudbay would receive rights including participation in equity financings and the right to nominate one board director. Proceeds will fund exploration, resource definition and technical studies at the Pecoy copper-gold project in southern Peru, including a planned updated mineral resource estimate. Closing is expected on or about November 5, 2026, subject to customary conditions and TSXV acceptance.
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