Hercules Metals Corp. has completed its non-brokered private placement, raising aggregate gross proceeds of C$4,500,000.92 through the issuance of 7,258,066 common shares at a price of C$0.62 per share.

The financing was subscribed entirely by incoming members of the Arizona Sonoran Copper Company Inc. team who are joining the Hercules leadership. George Ogilvie and six other senior executives from Arizona Sonoran joined Hercules on a full-time basis, with Mr. Ogilvie assuming the role of President and CEO effective September 1, 2026. The incoming personnel complement the existing exploration team with expertise across project development, geology, permitting, environmental management, finance, legal affairs, capital markets, corporate development and investor relations.

Hercules intends to direct the net proceeds from the offering to support continued drilling and expansion of the Leviathan porphyry copper system in western Idaho, alongside exploration of additional porphyry targets, geological and resource modelling, and general working capital and corporate purposes. The Hercules project forms part of a 73-kilometre copper belt where the company controls over 100,000 acres of prospective mineral rights.

The company previously closed a bought deal private placement raising gross proceeds of C$31.5 million in May 2026 to fund exploration activities at the property. That financing followed the commencement of an initial 12,500-metre first phase of drilling in March 2026, which targeted five new areas along trend from the Leviathan system.

The common shares issued under the latest offering are subject to a statutory hold period under Canadian securities laws expiring four months and one day from the date of issuance. The offering remains subject to final acceptance of the TSX Venture Exchange.

Read the full announcement: Hercules Metals Closes C$4.5 Million Non-Brokered Private Placement Led by Incoming Leadership Team