10:44 AM EDT, 04/22/2026 (MT Newswires) -- Element 29 Resources (ECU.V) on Wednesday said it closed its non-brokered private placement and issued 32.2-million common shares of the company at $1.10 apiece for $35.5 million.

Proceeds from the financing will be used to fund exploration activities at its Peru projects, including the 2026 drilling program at its flagship Elida porphyry copper-molybdenum-silver (Cu-Mo-Ag) deposit in west-central Per, and for general working capital needs.

Element 29 Resources Chief Executive Richard Osmond said: "... we are pleased to welcome Alpayana S.A.C., led by Chair Alejandro Gubbins, as a new strategic investor with a 9.9% interest in the Company."

"We are also pleased to welcome Randy Smallwood into the Financing, added Osmond.

Shares of the company were last seen up about 3% at $1.37 on the TSX Venture Exchange.

Price: 1.37, Change: +0.04, Percent Change: +3.01

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