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# A Junior Copper Miner's New Leadership Team Funded Its Own Hiring
- URL: https://www.pennystocks.news/badef-a-junior-copper-miner-s-new-leadership-team-funded-its/
- Published: 2026-09-02T13:02:20.000Z
- Updated: 2026-09-02T13:02:20.000Z
- Description: The incoming executives came from Arizona Sonoran Copper, which Hudbay acquired for about US$1.5 billion. They bought their way into Hercules at C$0.62 a share. Now they're running the drill program.
- Author: PennyStocksNews Team
- Tags: otc, ticker-badef

The incoming leadership team at Hercules Metals formally took over on September 1\. Their **C$4.5 million investment** in the company had closed the day before.

HERCULES METALS CORP OTC: BADEF 

Every share in the placement — about 7.3 million in total, **priced at C$0.62 each** — was bought by the former management team of Arizona Sonoran Copper Company, the group now stepping into Hercules's senior roles, the company said in an August 31 release. In a separate announcement on July 30, Hercules said George Ogilvie would become President and CEO effective September 1; founder Chris Paul would move to a senior exploration role. The Arizona Sonoran team left that company through a sale: Hudbay Minerals acquired it in a deal Hudbay valued at about US$1.5 billion, according to a Hudbay SEC filing from March 2026.

For anyone already holding Hercules shares, those 7.3 million new shares make each existing one a smaller slice of the same company. The other side of that is that the new team's money is tied up: Canadian securities rules prohibit resale for **roughly four months from the date of issuance**, so the executives cannot exit quickly regardless of how the drilling goes.

Hercules says the proceeds will go toward continued drilling and expansion of the **Leviathan porphyry copper system** in western Idaho, exploration of other porphyry targets, and general working capital. The release gave no timeline for the next round of results.

Shares **closed 17.03% higher at $1.1180, on dollar volume of about $565,000**.

The deal still needs the TSX Venture Exchange's sign-off. That approval had not come through as of the August 31 release.