Surge Copper Corp. is pleased to announce that it has entered into a subscription agreement for a private placement financing with a new cornerstone strategic investor,
African Rainbow Minerals Ltd. . Under the terms of the Strategic Placement, ARM, through its wholly-owned subsidiary ARM Copper Company Proprietary Limited , will subscribe for 39,608,708 common shares of Surge at C$0.095 per Strategic Placement Common Share, representing an approximately 18% premium to the 20-day volume weighted average price of the Company's common shares on the TSX Venture Exchange as at April 1, 2024, for gross proceeds of approximately C$3,762,827. Upon completion of the Strategic Placement, ARM will own 15.0% of Surge's issued and outstanding common shares on a non-diluted ...