Coyote Copper Mines Company (CCMM(TSXV) It is increasing its previously announced non-brokered financing to $7.0 million, compared to the previous target of $5.0 million.
The company, which mines copper in Arizona, said it would issue up to 28 million units to be issued at a price of 25 cents per unit, with each unit consisting of a fully paid, non-exercise common share and half a common share purchase warrant. Half of the two warrants will entitle the holder to purchase one common share. Each Warrant will expire 36 months from the date of its issuance, and the holder will have the right to purchase one common share for 50 cents per Warrant Share within 36 months from the date of issuance.
The first tranche of the offering is expected to close on or before May 28, or such other date as may be determined by the Company and subject to stock exchange approval.
Coyote Copper was created through the reverse takeover of Goal Capital Corp. and Copper Bullet Mines Inc. Shares began trading on April 13, 2026.
On Monday, shares fell 4.16%, or $0.01, to 23 cents, trading in a 52-week range of 35.5 cents and 18.5 cents.
The company said it has acquired, through mortgage and option, a large parcel of land in the heart of Arizona’s Copper Triangle. The Copper Springs Project covers an area of 3,600 hectares and contains a historical resource of 47 million tonnes of 0.4% copper and is non-compliant with current NI 43-101 disclosure standards. It abuts the eastern border of the claim bloc it controls Rio Tinto Group (Rio-NYSE) and BHP Group Limited (BHP-NYSE), which hosts the Resolution Copper Project.
Copper Springs has been the target of more than 100 historic drill holes, the company said. She said the historic resource is one of several exploration targets located throughout the property and represents about 10% of the overall historical supergene oxide footprint that was identified through wide-distance drilling in the 1960s.
The 2025 NI 43-101 compliant technical report outlines a phased exploration program of surface sampling, geophysics and drilling that is designed to upgrade historic non-compliant resources, as well as potentially develop and expand mineralized areas.
In a press release dated May 12, 2026, the company announced the completion and initial interpretation of its integrated geophysical and hyperspectral program on the Copper Springs and Gibson claims packages.
“Together, the results indicate the potential for a large and well-developed porphyry copper system, with geophysical signatures that may exceed the range typically observed in similar global deposits,” the company said. “This work complements a key component of Coyote’s 2026 exploration plan, which included drone magnets, hyperspectral satellite imaging, CSEM, MT, 3D IP surveys, soil geochemistry, as well as mapping, sampling and re-logging of historic drill cores.
