Surge Copper Announces Closing of First Tranche of $20 Million Private Placement
Surge Copper Corp.
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PO Box 10351 888-700 West Georgia Street, Vancouver, BC, Canada, V7Y 1G5
www.surgecopper.com
TSX-V: SURG
OTCQB: SRGXF
FRA: G6D2
Telephone: +1 (604) 781-5454
Email: [email protected]
February 26, 2026
NEWS RELEASE
Surge Copper Announces Closing of First Tranche of $20 Million Private Placement
Not for distribution to U.S. newswire services or dissemination in the United States
February 26, 2026 – Vancouver, British Columbia – Surge Copper Corp. (TSXV: SURG)
(OTCQB: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce
that it has closed the first tranche of its previously announced $20 million non-brokered
private placement (the “Offering”), for gross proceeds of $16 million under the first tranche,
consisting of 32,040,000 units (the “Units”). Each Unit consists of one common share of the
Company and one common share purchase warrant , on the terms previously described in
the Company’s February 10, 2026 news release.
The Offering was strongly supported by a co mbination of existing shareholders and new
institutional investors.
Leif Nilsson, Chief Executive Officer, commented: “ We are pleased to complete the first
tranche of this financing and appreciate the continued support from both existing
shareholders and new institutional investors. This capital strengthens our balance sheet and
positions the Company to advance our business in a disciplined and focussed manner.”
The second and final tranche of the Offering is expected to consist of an approximately $4
million subscription from the Company’s strategic investor (see press release dated May 31,
2024), which has provided notice of its exercise of its participation rights under an investor
rights agreement dated May 31, 2024. Closing of the second tranche remains subject to the
execution of definitive subscription document ation, receipt of certain foreign regulatory
approvals, and customary closin g conditions, including condit ional acceptance of the TSX
Surge Copper Corp.
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Venture Exchange. The second tranche is expect ed to close on or about March 27, 2026 or
such other date as the Company may determine.
The net proceeds from the Offering will be used to advance the Company’s mineral
exploration and development projects, including the Berg and Ootsa projects, as well as for
working capital and general corporate purposes.
The securities underlying the Units issued as pa rt of the Offering are subject to a statutory
hold period under applicable Canadian securities laws, expiring four months and a day from
their issue date.
In connection with the first tranche of the O ffering, the Company paid cash finder’s fees
totalling approximately $39,600 to Canaccord Genuity Corp.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor
shall there be any sale of any securities in any jurisdiction in which such offer, solicitation,
or sale would be unlawful including any of the securities in the United States of America. The
securities have not been and will not be registered under the United States Securities Act of
1933, as amended (the “ 1933 Act”) or any state securities laws and may not be offered or
sold within the United States or to, or for a ccount or benefit of, U.S. Persons (as defined in
Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state
securities laws, or an exemption from such registration requirements is available.
About Surge Copper Corp.
Surge Copper Corp. is a Canadian resource co mpany advancing one of British Columbia’s
emerging mineral districts. The Company’s 100%-owned Berg Project hosts a large-scale
copper-molybdenum-silver deposit with strong development potential in a safe jurisdiction
supported by established infrastructure. A 2023 Preliminary Economic Assessment outlined
a long-life project producing essential metals for industrial and energy systems. Surge is
advancing a Pre-Feasibility Study on the Berg Project to further define its technical and
economic development potential.
In addition to Berg, Surge controls a large, contiguous mineral claim package that includes
multiple advanced porphyry deposits, includin g the Ootsa Property adjacent to the past-
producing Huckleberry Mine. The Company’s projects collectively position Surge as a future
contributor to Canada’s critical minerals strategy through th e responsible development of
copper, molybdenum, and associated metals.
For more information, visit www.surgecopper.com
On Behalf of the Board of Directors
Surge Copper Corp.
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“Leif Nilsson”
Chief Executive Officer
For Further information, please contact:
Riley Trimble, Corporate Communications & Development
Telephone: +1 604 639 3852
Email: [email protected]
Twitter: @SurgeCopper
LinkedIn: Surge Copper Corp
https://www.surgecopper.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
This News Release contains forward-looking statements, which relate to future events. In
some cases, you can identify forward-looking statements by terminology such as "will",
"may", "should", "expects", "plans", or "anticipates" or the negative of these terms or other
comparable terminology. All statements included herein, other than statements of historical
fact, are forward-looking statements, incl uding but not limited to the Company’s
expectations regarding the size of the second tranche of the Offering, the Company’s ability
to close the second tranche of the Offering , Company’s ability to obtain all requisite
approvals to complete the second tranche of th e Offering, that the second tranche of the
Offering will be the final tran che of the Offering, the use of proceeds from the Offering,
statements about the Offering and general business and economic conditions, plans
regarding the Berg Project and the Ootsa Property, the anticipated completion and results of
the Pre-Feasibility Study, future exploration and technical programs, mineral resource
estimates, mine planning, process flowshee t development, capital and operating cost
estimates, waste, water, and tailings ma nagement, site infrastructure planning,
environmental assessment and permitting ac tivities, and engagement with Indigenous
Nations. These statements are only predic tions and involve known and unknown risks,
uncertainties, and other factor s that may cause the Company’ s actual results, level of
activity, performance, or achievements to be materially different from any future results,
levels of activity, performance, or achievements expressed or implied by these forward-
looking statements. Such uncertainties and ri sks may include, among others, the delay or
failure to receive regulatory or other approval s, including the approval of the TSX Venture
Exchange, for the Offering, actual results of the Company's exploration activities being
different than those expected by management, the ability to obtain adequate financing to
conduct its planned exploration programs, in ability to procure la bour, equipment, and
supplies in sufficient quantities and on a ti mely basis, equipment breakdown, and bad
weather. While these forward-looking statements, and any assumptions upon which they
are based, are made in good faith and reflect the Company's current judgment regarding the
Surge Copper Corp.
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direction of its business, actual results will almost always vary, sometimes materially, from
any estimates, predictions, projections, assumptions, or other future performance
suggestions herein. Except as required by a pplicable law, the Company does not intend to
update any forward-looking statements to conform these statements to actual results.