Pecoy Copper Announces Closing of Strategic Financing

(TSXV:PCU, FSE:D5E, OTCQX:PCUUF) Pecoy Copper Corp. announced the closing of a non-brokered private placement with Hudbay Minerals Inc. (NYSE:HBM) and an additional strategic investor. At closing, Pecoy Copper issued 14,914,100 common shares to Hudbay and 9,762,425 common shares to the Strategic Investor. The aggregate gross proceeds to Pecoy Copper from the private placement were approximately C$49.8 million. Following the closing, both Hudbay and the Strategic Investor each held approximately 9.99% of the issued and outstanding common shares of Pecoy Copper, calculated on a partially-diluted basis. The net proceeds from the private placement are expected to be used to advance exploration and development activities at the flagship Pecoy copper-gold project in southern Peru, including ongoing drilling, resource definition and expansion, geological and metallurgical studies, and technical work supporting a planned updated mineral resource estimate, as well as for general corporate and working capital purposes. In connection with the closing, Pecoy Copper and Hudbay entered into an investor rights agreement as previously described in the November 2, 2026 news release. The private placement remains subject to final acceptance of the TSX Venture Exchange. The common shares issued are subject to a statutory hold period expiring four months and one day from the date of closing. Pecoy Copper is advancing the Pecoy Copper-Gold-Molybdenum-Silver Project and the Tororume Project, which together cover approximately 19,800 hectares in southern Peru’s Arequipa region. The Pecoy project is a large, undeveloped porphyry system located at approximately 1,650 metres above sea level, with access to established infrastructure, power, water, and Pacific ports. Prior to the current drill program, less than 49,000 metres of historical drilling had been completed at Pecoy, defining a broad mineralized system with potential for expansion along strike and at depth. Vincent Metcalfe is President & CEO of Pecoy Copper Corp.