On July 7, 2026, Arras Minerals Corp. announced that it had closed its bought deal financing of 18,382,175 common shares at a price of $1.36 per share, leading to aggregate gross proceeds of approximately $25 million, including the full exercise of the underwriters’ option. The proceeds are intended to fund exploration and development activities at the Arras’s properties in Kazakhstan, as well as for working capital and general corporate purposes.
MLT Aikins was pleased to have advised Arras throughout the financing deal, with Mining group co-lead Mahdi Shams and mergers and acquisition lawyers Selena Chen and Ashley Bains serving as counsel.
Arras Minerals Corp. is a Canadian exploration and development company advancing a portfolio of copper and gold assets in northeastern Kazakhstan. Arras has established one of the largest prospective copper and gold land packages in the country, including the Elemes copper-gold porphyry project where initial drill results in 2025 identified porphyry style mineralization across a 10km line of strike.
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