Orecap Completes Sale of Cuprum to XXIX Metal Corp.
Orecap Invest Corp (TSXV: OCI, OTCQB: ORFDF) has completed the sale of its Cuprum Corp shares to XXIX Metal Corp in an all-share transaction. Through this deal, Orecap exchanged its 29,500,000 Cuprum shares (37.5% ownership) for XXIX shares at a ratio of 1.1538 XXIX shares per Cuprum share, based on XXIX's share price of $0.13.
Following the transaction, Orecap's ownership in XXIX Metal Corp increased from 2.9% (5,059,752 shares) to 15.1% (34,037,100 shares). The acquisition establishes XXIX as one of Canada's largest copper resource developers, with two multi-billion-pound copper deposits in Quebec and Ontario.
Orecap Invest Corp (TSXV: OCI, OTCQB: ORFDF) ha completato la vendita delle sue azioni di Cuprum Corp a XXIX Metal Corp in una transazione completamente azionaria. Con questo accordo, Orecap ha scambiato le sue 29.500.000 azioni Cuprum (proprietà del 37,5%) per azioni XXIX, con un rapporto di 1,1538 azioni XXIX per ogni azione Cuprum, basato sul prezzo delle azioni di XXIX di $0,13.
Dopo la transazione, la partecipazione di Orecap in XXIX Metal Corp è aumentata dal 2,9% (5.059.752 azioni) al 15,1% (34.037.100 azioni). L'acquisizione stabilisce XXIX come uno dei più grandi sviluppatori di risorse di rame in Canada, con due giacimenti di rame multi-miliardari in Quebec e Ontario.
Orecap Invest Corp (TSXV: OCI, OTCQB: ORFDF) ha completado la venta de sus acciones de Cuprum Corp a XXIX Metal Corp en una transacción totalmente de acciones. A través de este acuerdo, Orecap intercambió sus 29.500.000 acciones de Cuprum (37,5% de propiedad) por acciones de XXIX a una razón de 1,1538 acciones de XXIX por cada acción de Cuprum, basado en el precio de la acción de XXIX de $0,13.
Tras la transacción, la participación de Orecap en XXIX Metal Corp aumentó del 2,9% (5.059.752 acciones) al 15,1% (34.037.100 acciones). La adquisición establece a XXIX como uno de los mayores desarrolladores de recursos de cobre en Canadá, con dos depósitos de cobre de varios miles de millones de libras en Quebec y Ontario.
Orecap Invest Corp (TSXV: OCI, OTCQB: ORFDF)가 XXIX Metal Corp에 Cuprum Corp 주식을 전량 주식 거래 방식으로 매각을 완료했습니다. 이번 거래를 통해 Orecap은 Cuprum 주식 29,500,000주(소유 비율 37.5%)를 XXIX 주식으로 1주당 1.1538 XXIX 주식 비율로 교환하였으며, 이는 XXIX 주가가 $0.13 기준입니다.
거래 이후 Orecap의 XXIX Metal Corp에 대한 소유 비율은 2.9% (5,059,752주)에서 15.1% (34,037,100주)로 증가했습니다. 이번 인수로 XXIX는 캐나다에서 가장 큰 구리 자원 개발업체 중 하나로 자리 잡았으며, 퀘벡과 온타리오에 각각 수십억 파운드에 달하는 구리 매장량을 보유하고 있습니다.
Orecap Invest Corp (TSXV: OCI, OTCQB: ORFDF) a finalisé la vente de ses actions Cuprum Corp à XXIX Metal Corp dans le cadre d'une transaction entièrement basée sur des actions. Grâce à cet accord, Orecap a échangé ses 29.500.000 actions Cuprum (propriété de 37,5 %) contre des actions XXIX à un ratio de 1,1538 action XXIX par action Cuprum, en fonction du prix de l’action de XXIX de 0,13 $.
À la suite de la transaction, la participation d'Orecap dans XXIX Metal Corp est passée de 2,9 % (5.059.752 actions) à 15,1 % (34.037.100 actions). Cette acquisition établit XXIX comme l'un des plus grands développeurs de ressources en cuivre au Canada, avec deux dépôts de cuivre de plusieurs milliards de livres au Québec et en Ontario.
Orecap Invest Corp (TSXV: OCI, OTCQB: ORFDF) hat den Verkauf seiner Cuprum Corp-Aktien an XXIX Metal Corp in einer Transaktion vollständig in Aktien abgeschlossen. Im Rahmen dieses Deals tauschte Orecap seine 29.500.000 Cuprum-Aktien (37,5 % Anteil) gegen XXIX-Aktien im Verhältnis von 1,1538 XXIX-Aktien pro Cuprum-Aktie, basierend auf dem Aktienkurs von XXIX von 0,13 $.
Nach der Transaktion erhöhte sich der Anteil von Orecap an XXIX Metal Corp von 2,9 % (5.059.752 Aktien) auf 15,1 % (34.037.100 Aktien). Die Übernahme stellt XXIX als einen der größten Entwickler von Kupferressourcen in Kanada dar, mit zwei Kupferlagerstätten im Wert von mehreren Milliarden Pfund in Quebec und Ontario.
- Increased ownership stake in XXIX Metal Corp from 2.9% to 15.1%
- Strategic position in one of Canada's largest copper resource developers
- Portfolio diversification through ownership in multiple mining companies
- Reduced direct ownership in Cuprum Corp through share exchange
- Exposure to single company (XXIX) risk instead of direct asset ownership
Highlights:
- Orecap's Portfolio company Cuprum acquired by XXIX Metal Corp. in an all-share deal.
- Orecap's now owns
15.1% if XXIX - XXIX becomes one of Eastern Canada's largest copper developer.
Toronto, Ontario--(Newsfile Corp. - December 9, 2024) - Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) (the "Company" or "Orecap") is pleased to announce that its portfolio company, XXIX Metal Corp. (formerly QC Copper and Gold Inc.) ("XXIX"), has acquired
Pursuant to the Transaction, XXIX acquired all the issued and outstanding Cuprum Shares, including the 29,500,000 Cuprum Shares (
Orecap: (i) acquired the XXIX Shares in connection with the Transaction; (ii) holds the XXIX Shares for investment purposes; and (iii) does not have any current intentions to increase or decrease its beneficial ownership or control or direction over any additional securities of XXIX. Orecap may, from time to time and depending on market and other conditions, acquire additional XXIX Shares through market transactions, private agreements, treasury issuances, dividend reinvestment programs, exercise of options, convertible securities or otherwise, or may sell all or some portion of the XXIX Shares its owns or controls, or may continue to hold the XXIX Shares. An early warning report will be filed by Orecap in accordance with applicable securities laws and will be available on SEDAR+ at www.sedarplus.ca.
Orecap's Current Equity Holdings include:
| Company (Ticker) | Shares Owned / (% of Outstanding Shares) |
| Mistango River Resources (MIS:CSE) | 24,708,975 / ( |
| XXIX Metal Corp. (QCCU:TSXV | QCCUF:OTCQB) | 39,096,852/ ( |
| American Eagle Gold (AE:TSXV | AMEGF:OTCQB) | 11,783,748 / ( |
| Awale Resources (ARIC:TSXV) | 8,333,333 + 4,166,666 warrants / ( |
About Orecap Invest Corp.
Orecap seeks special situation investments in the natural resource sector that offer shareholders diverse exposure to high returns on precious and critical metal assets and businesses. Orecap has significant equity positions in portfolio companies, such as American Eagle Gold (TSXV: AE) (OTCQB: AMEGF), XXIX Metal Corp. (TSXV: QCCU) (OTCQB: QCCUF), Mistango (CSE: MIS), Awale Resources (TSXV: ARIC), and Cuprum Corp. in addition to owning a broad portfolio of land packages focused on gold, copper and zinc. Agnico Eagle Mines Limited is a
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For further information, please contact us:
Orecap Invest Corp.
Stephen Stewart, Chief Executive Officer
416.644.1567
sstewart@oregroup.ca
Forward-Looking Statements
Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements)", including details about the business of the Company. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in the Company's public disclosure documents available at www.sedarplus.ca. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233000
FAQ
What is the exchange ratio for Orecap's Cuprum shares to XXIX Metal Corp shares?
How many shares of XXIX Metal Corp does Orecap (ORFDF) now own after the transaction?
What was Orecap's (ORFDF) ownership percentage in Cuprum Corp before the sale?
