Canadian Copper Sells Two Projects For Up To $2.1 Million In Consideration

FULL DISCLOSURE: The Deep Dive is long the equity of Canadian Copper.

Canadian Copper (CSE: CCI) has disclosed it intends to center its focus on its Murray Brook project, which it says is New Brunswick’s largest undeveloped open pit polymetallic resource. The company as a result has entered into sales agreements for two of its option agreements, with consideration to be provided in the form of cash and shares.

The sales arrangements will see its option agreement rights for the Chester Project sold for $1.4 million, while similar rights for the Turgeon Project will be sold for $0.7 million. Total consideration under the two arrangements will provide the company with up to $2,160,000 in cash and shares.

Both of the sales agreements have been entered into with Raptor Resources, with cash payments totaling $1.35 million being contingent on Raptor listing its shares on the Australian Stock Exchange. Canadian Copper meanwhile is slated to receive 4.0 million shares in Raptor under the terms of the agreement.

“Focus is essential when navigating the current capital markets situation for most junior miners in Canada today. We believe this strategic divestment achieves two objectives for us. First, it enables Canadian Copper to allocate capital exclusively on the advanced large open pit Murray Brook deposit and surrounding exploration ground, while still participate in Chester and Turgeon resource growth through Raptor Resources shares. Second, this transaction will strengthen Canadian Copper’s balance sheet without shareholder dilution,” commented Simon Quick, CEO of Canadian Copper.

Canadian Copper last traded at $0.085 on the CSE.


FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of Canadian Copper. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

Giant Mining Encounters Native Copper As Hole MHB-34 Hits 563 Metres Depth

Verses Hits Commercialization Stage With Genius AI Platform

Related News

The Bull Case For The Interpretation Of Canadian Copper’s Metallurgical Testwork

Canadian Copper (CSE: CCI) this past week released results from their ongoing metallurgical testwork program....
Monday, February 17, 2025, 03:22:00 PM

Canadian Copper Sees Positive Results From Early Metallurgical Testwork

Positive results were released this morning from an ongoing metallurgical testwork program being conducted by...
Monday, February 10, 2025, 09:41:51 AM

Canadian Copper Intersects 0.39% Copper Over 111 Metres

Drilling continues for Canadian Copper (CSE: CCI) under a phase two drill program being conducted...

Tuesday, October 4, 2022, 08:28:25 AM

Canadian Copper Targets H1 2025 For Release Of PEA On Murray Brook

Canadian Copper (CSE: CCI) has released its objectives for 2025 as the year comes to...
Thursday, December 19, 2024, 09:26:04 AM

Canadian Copper Begins Trading On The CSE

Canadian Copper (CSE: CCI) became the latest issue to hit the Canadian Securities Exchange, experiencing...

Tuesday, July 26, 2022, 03:50:00 PM