HBM•Pecoy Copper agreed to raise approximately C$49.8 million through a private placement at C$2.02 per share. Hudbay Minerals will invest approximately C$30.1 million, and a strategic investor will invest approximately C$19.7 million.
Hudbay Minerals will buy 14,914,100 shares, while another strategic investor will purchase 9,762,425 shares. The price is a 10% premium to the 10-day VWAP, and each investor is expected to hold approximately 9.99% on a partially diluted basis.
Pecoy Copper plans to use the net proceeds for exploration and development at its Pecoy copper-gold project in southern Peru, as well as for general corporate and working capital needs. Closing is expected around Nov. 5, 2026, subject to customary conditions and regulatory approvals.
