GlobeNewswire·Nov 2, 2026, 6:15 AM ET

Pecoy Copper Announces C$49.8 Million Strategic Financing Led by Hudbay Minerals

PCUUF HBM

Pecoy Copper Corp. entered into subscription agreements with Hudbay Minerals Inc. and a Strategic Investor for a non-brokered private placement of 24,676,525 common shares at C$2.02 per share.
Hudbay subscribed for 14,914,100 shares worth approximately C$30.1 million, while the Strategic Investor subscribed for 9,762,425 shares worth approximately C$19.7 million, totaling C$49.8 million in gross proceeds.
The issue price represents a 10% premium to the 10-day volume-weighted average price on the TSXV as of October 30, 2026.
Net proceeds will fund exploration, drilling, resource definition, metallurgical studies, technical work for an updated mineral resource estimate, & general corporate working capital for the Pecoy copper-gold project in southern Peru.
Immediately following closing, Hudbay & the Strategic Investor are expected to each hold approximately 9.99% of issued common shares on a partially diluted basis.
Hudbay will enter into an investor rights agreement granting rights to participate in future dilutive financings to maintain pro rata ownership up to 9.99% & to nominate one director to the board.
Closing of the private placement is expected on or about November 5, 2026, subject to customary conditions & regulatory approvals including TSXV acceptance.
The issued common shares will be subject to a statutory hold period in accordance with applicable securities laws.
Pecoy Copper trades on the TSXV (PCU), Frankfurt Stock Exchange (D5E), & OTCQX (PCUUF) & is advancing the Pecoy Project covering 19,800 hectares in Peru's Arequipa region.