Hercules Metals to Raise Around CA$30 Million Via Bought Deal Private Placement

07:19 AM EDT, 10/23/2026 (MT Newswires) -- Hercules Metals (BIG.V) entered into an agreement with underwriters for a bought-deal private placement for gross proceeds of around CA$30 million, it said after markets closed Thursday. The underwriters agreed to purchase 34.5 million shares of the company at CA$0.87 each, the company said. Hercules also granted the underwriters an option to purchase up to an additional 5.2 million shares at the offering price for another CA$4.5 million exercisable up to 48 hours before the closing of the offering, which is expected around Nov. 12. The company will use the net proceeds to advance the Hercules Project, a porphyry copper system, as well as for working capital and general corporate purposes, it said.