Aztec Minerals Corp. has entered into a bought deal agreement with Stifel Canada to raise gross proceeds of C$5,000,000 through a private placement offering.

The financing involves the sale of 15,625,000 units at a price of C$0.32 per unit. Each unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant allows the holder to buy an additional common share at an exercise price of C$0.42 for 24 months following the closing date.

The company has also granted the underwriter an option to purchase up to an additional 15% of the units at the issue price, which could generate an extra C$750,000 in gross proceeds if exercised up to 48 hours before closing. Aztec Minerals will pay a 6% cash commission and issue broker warrants equal to 6% of the units sold under the offering, with each broker warrant exercisable at C$0.32 for 24 months.

The net proceeds are earmarked to fund exploration work across the company’s asset portfolio, supporting its 85.0% joint venture interest in the historic Tombstone gold-silver and CRD silver-lead-zinc-copper-gold project in southeastern Arizona and its 100% interest in the Cervantes porphyry gold-copper project in Sonora, Mexico, alongside general working capital requirements.

The offering is conditioned on receiving standard regulatory permissions, including conditional approval from the TSX Venture Exchange, and is scheduled to close on or about September 22, 2026. Securities issued under the placement will be subject to a four-month and a day hold period under applicable Canadian laws.

Nearby in the district, Barksdale Resources reported that its Sunnyside copper-silver project met its Phase II earn-in drill requirements and intersected 65.5 metres grading 0.47% copper and 1.24 g/t silver, including 7.6 metres grading 1.93% copper and 1.96 g/t silver.

Read the full announcement: Aztec Minerals Announces $5 Million Bought Deal Private Placement of Units