Kobrea Completes First Payment Under Option Agreement
Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) has completed the first payment under an option agreement to acquire up to 100% interest in the Western Malargüe Copper Projects in Argentina. The payment included USD$250,000 in cash and 100,000 common shares. To fully acquire the properties, Kobrea must issue 3.5 million shares and pay USD$6.76 million over five years, subject to a 1.5% net smelter return royalty. The company plans to conduct exploration activities, including a district-scale ZTEM survey to define hydrothermal alteration footprints and outline additional copper porphyry targets. Geological, geochemical, and geophysical surveys will follow to advance priority targets.
Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) ha completato il primo pagamento ai sensi di un accordo di opzione per acquisire fino al 100% degli interessi nei Progetti di Rame Western Malargüe in Argentina. Il pagamento ha incluso 250.000 USD in contanti e 100.000 azioni ordinarie. Per acquisire completamente le proprietà, Kobrea deve emettere 3,5 milioni di azioni e pagare 6,76 milioni di USD nell'arco di cinque anni, soggetto a una royalty del 1,5% sul ritorno netto della fusione. L'azienda prevede di condurre attività di esplorazione, compreso un sondaggio ZTEM su scala distrettuale per definire le impronte di alterazione idrotermale e delineare ulteriori obiettivi di rame porfirico. Seguiranno sondaggi geologici, geochimici e geofisici per far avanzare gli obiettivi prioritari.
Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) ha completado el primer pago bajo un acuerdo de opción para adquirir hasta el 100% de interés en los Proyectos de Cobre Western Malargüe en Argentina. El pago incluyó 250,000 USD en efectivo y 100,000 acciones ordinarias. Para adquirir completamente las propiedades, Kobrea debe emitir 3.5 millones de acciones y pagar 6.76 millones de USD en un período de cinco años, sujeto a un royalty del 1.5% sobre el retorno neto de fundición. La empresa planea llevar a cabo actividades de exploración, incluyendo un sondeo ZTEM a escala distrital para definir huellas de alteración hidrotermal y delinear objetivos adicionales de pórfido de cobre. Se realizarán encuestas geológicas, geoquímicas y geofísicas para avanzar en los objetivos prioritarios.
Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF)는 아르헨티나의 웨스턴 말라구에 구리 프로젝트에서 최대 100%의 지분을 취득하기 위한 옵션 계약에 따라 첫 번째 지급을 완료했습니다. 지급금에는 250,000 USD의 현금과 100,000주 보통주가 포함되었습니다. 자산을 완전히 취득하기 위해 Kobrea는 350만 주의 주식을 발행하고 5년 동안 676만 USD를 지불해야 하며, 순 제련 수익에 대해 1.5%의 로열티가 적용됩니다. 회사는 지구 규모 ZTEM 조사를 포함한 탐사 활동을 진행하여 열수 변화의 흔적을 정의하고 추가적인 구리 포르피리 목표를 정리할 계획입니다. 우선 목표를 발전시키기 위해 지질학적, 지구화학적 및 물리탐사를 수행할 것입니다.
Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) a complété le premier paiement dans le cadre d'un accord d'option pour acquérir jusqu'à 100 % d'intérêt dans les Projets de Cuivre Western Malargüe en Argentine. Le paiement comprenait 250 000 USD en espèces et 100 000 actions ordinaires. Pour acquérir pleinement les propriétés, Kobrea doit émettre 3,5 millions d'actions et payer 6,76 millions USD sur cinq ans, sous réserve d'une redevance de 1,5 % sur le retour net de la fusion. L'entreprise prévoit de réaliser des activités d'exploration, y compris une enquête ZTEM à l'échelle d'un district pour définir les empreintes de modification hydrothermale et dresser un bilan d'objectifs supplémentaires de porphyre de cuivre. Des enquêtes géologiques, géochimiques et géophysiques suivront pour faire avancer les cibles prioritaires.
Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) hat die erste Zahlung im Rahmen eines Optionsvertrags zur Übernahme von bis zu 100% der Anteile an den Western Malargüe Kupferprojekten in Argentinien abgeschlossen. Die Zahlung umfasste 250.000 USD in bar und 100.000 Stammaktien. Um die Grundstücke vollständig zu erwerben, muss Kobrea 3,5 Millionen Aktien ausgeben und 6,76 Millionen USD über einen Zeitraum von fünf Jahren zahlen, unterlegt mit einer 1,5%-Lizenzgebühr auf den Nettoertrag aus dem Schmelzprozess. Das Unternehmen plant, Erkundungsaktivitäten durchzuführen, einschließlich einer Gemeinde-umfangreichen ZTEM-Umfrage, um hydrothermale Veränderungsmuster zu definieren und zusätzliche Kupferporphyrziele zu skizzieren. Geologische, geochemische und geophysikalische Erhebungen werden folgen, um priorisierte Ziele voranzutreiben.
- Option to acquire 100% interest in Western Malargüe Copper Projects in Argentina
- Completed first payment of USD$250,000 and 100,000 shares under the agreement
- Planning extensive exploration activities, including ZTEM survey and geological surveys
- Significant future payments required: 3.5 million shares and USD$6.76 million over five years
- 1.5% net smelter return royalty payable to optionors
Vancouver, British Columbia--(Newsfile Corp. - August 26, 2024) - Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) ("Kobrea" or the "Company") is pleased to announce that, further to its press release dated August 19, 2024, it has completed the first payment to the optionors under the option agreement dated August 14, 2024 (the "Option Agreement"), pursuant to which the Company can acquire up to a
The first payment under the Option Agreement consisted of USD
Under the terms of the Option Agreement, the Company can acquire up to a
Western Malargüe Copper Projects
The Company is planning exploration activities on the Properties as soon as practicable. A district-scale ZTEM survey will be completed over the Properties to better define the hydrothermal alteration footprints of existing porphyry prospects (Figure 1) and to outline additional deposit-scale copper porphyry targets within the property boundaries. Geological, geochemical and additional geophysical surveys will be conducted to advance priority targets.
Figure 1 - Porphyry copper ± gold ± molybdenum targets on Western Malargüe Copper Projects
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10375/221083_3a5f349c745aaa0c_001full.jpg
Qualified Person
The scientific and technical information in this news release has been reviewed by Rory Ritchie, P.Geo., Chief Geologist and Director of Kobrea Exploration Corp. and a Qualified Person under National Instrument 43-101.
About the Western Malargüe Copper Projects
Kobrea holds the right to earn a
For more information, please consult the Company's filings, available at www.sedarplus.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "James Hedalen"
James Hedalen
CEO & Director
Contact Information
James Hedalen
CEO & Director
Mobile: (778) 322-9066
Email: James@kobreaexploration.com
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of applicable securities laws with respect to the Company, including statements respecting (i) the Properties and the mineral prospects thereon, (ii) the Company's performance of its obligations under the Option Agreement, and the exercise of the option thereunder, and (ii) the Company's planned exploration activities on the Properties. These forward-looking statements generally are identified by words such as "believe," "project," "aim," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," and similar expressions. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221083
FAQ
What is the first payment Kobrea made for the Western Malargüe Copper Projects?
What are the total payments required for Kobrea (KBXFF) to acquire 100% interest in the properties?
What exploration activities does Kobrea plan for the Western Malargüe Copper Projects?
What royalty is associated with the Western Malargüe Copper Projects option agreement?
