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Pecoy Copper Corp. Announces Closing of Reverse Takeover and Completion of Pecoy Project Acquisitions
NYSE - LSE
Pecoy Copper Corp. Announces Closing of Reverse Takeover and Completion of Pecoy Project Acquisitions
Consolidation of 100% ownership (directly or via options) of the Pecoy copper-gold-molybdenum project in southern Peru; trading on TSX Venture Exchange expected under the ticker "PCU".
VANCOUVER, BC / ACCESS Newswire / September 4, 2025 / Pecoy Copper Corp. ("Pecoy Copper" or the "Company") (TSXV:PCU) is pleased to announce that it has closed its previously announced reverse takeover (the "RTO") by Pecoy Copper Limited, a special purpose vehicle "Pecoy SPV"). Immediately prior to the completion of the RTO, the Pecoy SPV closed the series of previously announced acquisitions and option transactions (collectively, the "Acquisitions" and together with the RTO, the "Transaction") that consolidated ownership of the Pecoy copper-gold-molybdenum project in southern Peru (the "Pecoy Project" or "Pecoy") under the Pecoy SPV.
The Company (directly or through subsidiaries) now owns, or holds options to acquire, 100% of the mineral concessions comprising the Pecoy Project, including interests acquired from Copper X Mining Corp., Pembrook Copper Corp. and certain private third parties. Further details on the company, resources, technical reports and financials can be found on our website www.pecoycopper.com.
Subject to final approval of the TSX Venture Exchange (the "TSXV"), the Company's common shares are expected to commence trading on the TSXV as a Tier 1 mining issuer on or about September 8, 2025, under the trading symbol "PCU".
"The closing of this transaction marks a truly transformational milestone for Pecoy Copper," said Vincent Metcalfe, President & CEO. "It is the culmination of months of intense effort, collaboration, and focus from our team and partners. By consolidating 100% ownership of one of Peru's largest undeveloped copper-gold-molybdenum deposits, we now have the scale, resources, and expertise to fully unlock Pecoy's potential. Our near-term priorities are clear: expansion drilling, advancing engineering, and deepening community partnerships. With this foundation in place, we look forward to seeing the Pecoy deposit take shape and to positioning it as the next generation of large-scale copper development in the Americas."
"Historically, the advancement of Pecoy has been hampered by fractured ownership but uniting the deposit for the first time is a major accomplishment that clears the way for further development," commented Paul Matysek, Chairman and Co-Founder of Pecoy Copper. "The experienced team, an established resource with significant upside, a 30-year community agreement, and proximity to infrastructure, are key elements that will propel Pecoy Copper to success."
Financing and Escrowed Proceeds
As previously disclosed, Pecoy SPV completed a private placement of subscription receipts (the "Offering") for gross proceeds of $63,480,000 at $0.60 per subscription receipt through a syndicate of agents led by Canaccord Genuity Corp. and including BMO Nesbitt Burns Inc., Cormark Securities Inc., Desjardins Securities Inc., Haywood Securities Inc., National Bank Financial Inc., Scotia Capital Inc., Ventum Capital Corp. and 3L Capital Inc. All escrow conditions have now been satisfied, and the net proceeds have been released to the Company. The Company intends to use the net proceeds of the Offering to fund the cash consideration in connection with the Acquisitions, to advance exploration and development of the Pecoy Project, as well as for working capital and general corporate purposes.
Creating A New Leading Copper-Gold Focused Development Company
Pecoy Copper Highlights:
Pecoy Copper now controls one of the world's largest undeveloped copper-gold-molybdenum porphyry deposits, with an Inferred Mineral Resource of approximately 865 million tonnes grading 0.34% Cu, 0.012% Mo, 0.05 g/t Au, and 1.33 g/t Ag; containing 6.5 billion pounds of copper and offering substantial resource expansion potential.
The Pecoy Project has had over US$65 million in historical investment since its discovery in 2011 that supports the potential for a large-scale, low-strip, open-pit operation at a favorable low elevation of 1,650 metres above sea level.
Significant exploration upside exists not only at Pecoy but also across more than 19,772 hectares of surrounding concessions, including the Tororume Project, with multiple early and advanced-stage targets already identified. To date, only 48,576 metres of diamond drilling have been completed at Pecoy, with near-term priority targets in the center of the pit and south breccia zones.
Initial metallurgical testing indicates a high copper recovery rate of 88%, with no deleterious elements detected. Further testwork will assess the potential to produce a molybdenum concentrate through Cu-Mo separation.
The Pecoy Project benefits from robust infrastructure and long-term community agreements, including a 30-year surface access agreement with local communities, active drill permits, and an operational exploration camp - all of which support near-term, year-round drilling and development efforts.
Peru is a top-tier mining jurisdiction, consistently ranked among the world's leading producers of copper, gold, silver, tin and zinc. Mining is a key contributor to the country's GDP and the global supply of metals.
Strategically located within the Southern Peru Porphyry Copper Belt, Pecoy sits at the northwestern end of a district that hosts world-class deposits such as Cerro Verde, Cuajone, Toquepala, Quellaveco, Zafranal, and Cerro Negro, making it ideally positioned for rapid advancement.
Proceeds from the completed Offering will be used to complete 30,000 metres of exploration drilling, conduct metallurgical and geotechnical studies, and advance the Pecoy Project toward a Preliminary Economic Assessment (PEA).
Board and Management of Pecoy Copper
The Company's board and management were reconstituted as follows:
Board of Directors:Paul Matysek (Chair), Jerrold Annett, Jose Luque, Vincent Metcalfe and Luis Zapata.
Management Team:Vincent Metcalfe, President & CEO; Vincent Cardin-Tremblay, Chief Geological Officer; Annie Dutil, Chief Financial Officer, Luis Zapata, Managing Director - Peru
Share Capital, Escrow and Additional Details
As of today, Pecoy Copper has 202,594,353 common shares issued and outstanding, of which approximately 37% are subject to escrow or lock-up as of closing. An additional 34,621,344 common shares are issuable in respect of outstanding options or warrants or in connection with the exercise of the Company's option on the Rosita claims.
The Company has entered into an investor relations agreement with Commodity Partners Inc. pursuant to which it will provide the Company with certain capital markets advisory and investor relations services.
Additional information about the Company is available in the Company's listing application which has been filed and is available on SEDAR+ under the Company's profile.
NI 43-101 Technical Disclosure
The scientific and technical information in this news release has been reviewed and approved by Vincent Cardin-Tremblay, P.Geo., a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). An NI 43-101 technical report in respect of the Pecoy Project with an effective date of April 30, 2025 and dated July 23, 2025 was prepared by Mining Plus and is available on SEDAR+ under the Company's profile. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
About Pecoy Copper
Pecoy Copper Corp. is a Canadian copper developer focused on advancing the Pecoy copper-gold-molybdenum project in southern Peru. The Company is a reporting issuer in British Columbia and Alberta. The Company expects its common shares to commence trading on the TSX Venture Exchange under the symbol "PCU" on September 8, 2025. For more information, please visit www.pecoycopper.com.
For further information, please contact:
Pecoy Copper Corp.
Suite 1500, 1055 West Georgia Street, Vancouver, BC V6E 4N7
Tel: (514) 249-9960 | Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" within the meaning of applicable securities laws, including statements regarding expected TSXV approvals; commencement of trading; use of proceeds; planned exploration, drilling, metallurgical and geotechnical programs; timing and completion of a PEA; the anticipated benefits of the RTO and the Acquisitions; and the potential of the Pecoy Project. Forward-looking statements are based on management's current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially, including without limitation risks related to exploration, development, permitting, community relations, title, financing, commodity prices, market conditions, the ability to satisfy TSXV listing conditions, and other factors more fully described in the Company's filings on SEDAR+. The Company disclaims any intention or obligation to update or revise any forward-looking statements, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
SOURCE: Pecoy Copper Corp.
View the original press release on ACCESS Newswire
T.Murray--SMC
