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Allied Copper Corp. (TSX-V: CPR, OTCQB: CPRRF) has appointed Lt. General (ret’d) Honourable Andrew Leslie to its board of directors, effective immediately. Leslie brings extensive leadership experience from his military and political career, including command of 60,000 personnel as Commander/CEO of the Canadian Army. Additionally, the company has granted 4,800,000 stock options to its directors, officers, and employees, exercisable at CAD$ 0.155 per share for up to four years. Allied Copper focuses on developing battery-metal assets for the global energy transition.
Allied Copper Corp. has successfully completed the acquisition of 100% of Volt Lithium Corp.'s shares, enabling access to approximately 400,000 acres of lithium-rich land in Alberta's Rainbow Lake area. As part of the deal, Allied Copper issued 38,880,000 common shares to Volt's shareholders, reflecting a share exchange ratio of 1.92. Key management changes involve the appointment of Alex Wylie as President and the addition of new directors. Shareholders will vote on the board's continued appointments in the upcoming annual general meeting by January 31, 2023.
Allied Copper Corp. (TSXV: CPR) announces the results of its first modern drill test at the Klondike Property, revealing strong copper mineralization potential, particularly along the West Graben Fault. The test included five drilling holes, with KDB22-05 showing a notable 4.26% copper over 1.06 meters. The company highlights extensive exploration opportunities provided by 76 mining claims and aims to contribute to the global battery metals supply. Management sees these results as crucial for advancing its battery-metals-focused strategy.
Allied Copper Corp. (TSX-V: CPR, OTCQB: CPRRF) announced plans to acquire Volt Lithium Corp., expanding its asset base in battery metals. The acquisition, expected to close by December 8, 2022, includes Volt's Rainbow Lake lithium-brine project in Alberta, featuring significant mineral permits covering 165,062 hectares. Preliminary sampling yielded lithium concentrations averaging 35.0 mg/L, validating historical data. Volt's financials indicate total assets of $77,395 and liabilities of $297,476, with a net loss of $(542,771). The acquisition awaits approval from the TSX Venture Exchange.
Allied Copper Corp. (CPRRF) has announced its acquisition of 100% of Volt Lithium Corp.'s shares, as per an agreement dated October 31, 2022. This acquisition includes about 400,000 acres of lithium-bearing land in Alberta, enhancing Allied's asset base to focus on essential battery metals. Allied will issue 39,840,000 common shares to Volt shareholders, resulting in them owning approximately 49% of Allied post-transaction. The deal awaits approval from the TSX Venture Exchange, with completion expected around November 16, 2022.
Allied Copper Corp. (TSX-V: CPR, OTCQB: CPRRF) has received TSX-V approval for its option agreement to acquire a 100% interest in the Stateline Property located between Colorado and Utah from Cloudbreak Discovery and associated vendors. The agreement involves cash payments totaling CDN$315,000, issuance of 4,250,000 common shares, and CDN$3,750,000 in exploration expenditures over four years. Additionally, based on milestones, the company may issue 1,500,000 common shares and warrants to the vendors.
Allied Copper Corp. has amended its Stateline Property option agreement with Cloudbreak and Alianza to delay security issuance that could trigger new insider status. The agreement, initially signed on February 9, 2022, allows Allied to acquire a 100% interest in the property with specific cash payments totaling CAD$315,000 and exploration expenditures of CAD$3,750,000 over four years. Share issuances of up to 4,250,000 are also outlined. A 2% net smelter royalty will be retained by Cloudbreak and Alianza upon successful completion of the acquisition.
Allied Copper Corp. (CPRRF) has initiated a 1,000-meter drill program at its Klondike Property in southwestern Colorado, aiming to explore three significant copper-mineralized targets. The first phase, costing CAD$1 million, will drill five priority holes up to 250 meters deep. The project follows positive results from a 2021 exploration program, which revealed promising copper and silver grades. Drilling is expected to last four to six weeks, with results anticipated in early Q4 2022. The Klondike Property is situated in a historically significant copper district.
Allied Copper Corp. (CPRRF) is excited to announce the mobilization of crews to the Klondike property for its first modern drilling test set for mid-July 2022. The five-hole drilling program, with a budget of CAD$1.25 million, aims to explore three target areas over 1,000 meters. Initial samples from the Northeast Fault indicated promising copper and silver grades, and the company expects to retain approximately CAD$2.25 million post-drilling for further activities. The Klondike property is strategically located within the Paradox Copper Belt, known for historical copper occurrences.
