XXIX Metal Corp. Closes Strategic Acquisition of Cuprum Corp.
XXIX Metal Corp (TSXV: QCCU) (OTCQB: QCCUF) has completed the acquisition of Cuprum Corp in an all-share transaction, establishing itself as one of Eastern Canada's largest copper resource developers. The deal includes Cuprum's 100% owned Thierry Copper Project, complementing XXIX's existing Opemiska project. The company issued 83,906,251 common shares at a price of $0.13 per share, with a 1.1538 exchange ratio for each Cuprum share.
As part of the transaction, the company has rebranded from QC Copper and Gold to XXIX Metal Corp, with trading under the new ticker symbol 'XXIX' set to commence on December 11, 2024. Following the acquisition, XXIX has 258,277,607 common shares outstanding.
XXIX Metal Corp (TSXV: QCCU) (OTCQB: QCCUF) ha completato l'acquisizione di Cuprum Corp in un'operazione interamente azionaria, affermandosi come uno dei principali sviluppatori di risorse di rame dell'Est del Canada. L'accordo include il progetto Thierry Copper, di proprietà al 100% di Cuprum, che si integra con l'esistente progetto Opemiska di XXIX. L'azienda ha emesso 83.906.251 azioni ordinarie a un prezzo di $0,13 per azione, con un rapporto di scambio di 1,1538 per ogni azione Cuprum.
Come parte della transazione, l'azienda ha cambiato nome da QC Copper and Gold a XXIX Metal Corp, con l'inizio delle negoziazioni sotto il nuovo simbolo quotato 'XXIX' previsto per l'11 dicembre 2024. A seguito dell'acquisizione, XXIX ha 258.277.607 azioni ordinarie in circolazione.
XXIX Metal Corp (TSXV: QCCU) (OTCQB: QCCUF) ha completado la adquisición de Cuprum Corp en una transacción totalmente de acciones, estableciéndose como uno de los principales desarrolladores de recursos de cobre en el Este de Canadá. El acuerdo incluye el Proyecto de Cobre Thierry, de propiedad total de Cuprum, complementando el proyecto Opemiska existente de XXIX. La compañía emitió 83,906,251 acciones comunes a un precio de $0.13 por acción, con una relación de intercambio de 1.1538 por cada acción de Cuprum.
Como parte de la transacción, la compañía se ha reinventado de QC Copper and Gold a XXIX Metal Corp, con el inicio de la cotización bajo el nuevo símbolo 'XXIX' programado para el 11 de diciembre de 2024. Tras la adquisición, XXIX tiene 258,277,607 acciones comunes en circulación.
XXIX Metal Corp (TSXV: QCCU) (OTCQB: QCCUF)는 Cuprum Corp의 인수를 주식 거래 방식으로 완료하여 캐나다 동부에서 가장 큰 구리 자원 개발업체 중 하나로 자리 잡았습니다. 이번 거래에는 Cuprum이 100% 소유한 Thierry 구리 프로젝트가 포함되어 있으며, 이는 XXIX의 기존 Opemiska 프로젝트를 보완합니다. 회사는 Cuprum 주식 1주당 $0.13의 가격으로 83,906,251주의 보통주를 발행하였고, 각 Cuprum 주식에 대해 1.1538의 교환 비율을 적용했습니다.
거래의 일환으로 회사는 QC Copper and Gold에서 XXIX Metal Corp로 브랜드를 변경하였으며, 새로운 티커 심볼 'XXIX' 하에 거래는 2024년 12월 11일부터 시작될 예정입니다. 인수 후 XXIX는 총 258,277,607주의 보통주를 보유하고 있습니다.
XXIX Metal Corp (TSXV: QCCU) (OTCQB: QCCUF) a finalisé l'acquisition de Cuprum Corp dans le cadre d'une transaction entièrement en actions, s'établissant comme l'un des plus grands développeurs de ressources en cuivre de l'Est du Canada. L'accord comprend le projet de cuivre Thierry, détenu à 100 % par Cuprum, et complète le projet Opemiska déjà existant de XXIX. L'entreprise a émis 83 906 251 actions ordinaires à un prix de 0,13 $ par action, avec un ratio d'échange de 1,1538 pour chaque action Cuprum.
Dans le cadre de la transaction, l'entreprise a rebrandé de QC Copper and Gold à XXIX Metal Corp, le trading sous le nouveau symbole boursier 'XXIX' devant commencer le 11 décembre 2024. Suite à l'acquisition, XXIX compte 258 277 607 actions ordinaires en circulation.
XXIX Metal Corp (TSXV: QCCU) (OTCQB: QCCUF) hat die Übernahme von Cuprum Corp durch eine rein aktienbasierte Transaktion abgeschlossen und sich damit als einer der größten Entwickler von Kupferressourcen im Osten Kanadas etabliert. Das Geschäft umfasst das zu 100 % im Besitz von Cuprum befindliche Thierry-Copper-Projekt, das das bestehende Opemiska-Projekt von XXIX ergänzt. Das Unternehmen gab 83.906.251 Stammaktien zum Preis von $0,13 pro Aktie aus, mit einem Umtauschverhältnis von 1,1538 für jede Cuprum-Aktie.
Im Rahmen der Transaktion hat sich das Unternehmen von QC Copper and Gold zu XXIX Metal Corp umbenannt, und der Handel unter dem neuen Tickersymbol 'XXIX' soll am 11. Dezember 2024 beginnen. Nach der Übernahme hat XXIX 258.277.607 ausgegebene Stammaktien.
- Acquisition establishes XXIX as one of Eastern Canada's largest copper developers
- Portfolio expansion with two multi-billion-pound copper deposits
- Strategic assets located in mining-friendly regions with access to infrastructure
- Significant shareholder dilution with issuance of 83,906,251 new shares
- Transaction completion subject to final TSXV approval
- XXIX acquired Cuprum and its
100% owned Thierry Copper Project in an all-share deal - XXIX becomes one of Eastern Canada's largest copper developer
- The combined Company was rebranded as XXIX Metal Corp., reflecting copper's atomic number 29
- New TSXV Ticker symbol is XXIX, effective December 11
Toronto, Ontario--(Newsfile Corp. - December 9, 2024) - XXIX Metal Corp. (TSXV: QCCU) (OTCQB: QCCUF) ("XXIX" or the "Company") is pleased to announce that it has completed the acquisition (the "Acquisition") of
Link to XXIX's Corporate Presentation
"This transformative acquisition is a significant milestone in XXIX's growth strategy. Thierry, Ontario's largest copper resource, is a complementary addition to Opemiska, with both projects located in mining-friendly regions and benefiting from access to critical infrastructure. The Acquisition enhances XXIX's scale, establishing the Company as one of Eastern Canada's largest copper developers with a multi-billion-pound resource portfolio. With the transaction now complete, XXIX's technical team will focus on advancing both Opemiska and Thierry in tandem, accelerating the development of these cornerstone assets," said Stephen Stewart, CEO of XXIX.
The Company is also pleased to announce that the Company has changed its name from "QC Copper and Gold Inc." to "XXIX Metal Corp." (the "Name Change"). Accordingly, it is anticipated that the Company's common shares ("Common Shares") will commence trading on the TSX Venture Exchange (the "TSXV") under the new name and new stock ticker symbol "XXIX" at the start of trading on December 11, 2024. In connection with the Name Change, the following new CUSIP 901320101 and ISIN CA9013201012 numbers have been assigned to the Common Shares.
Pursuant to the Acquisition, the Company acquired all of the issued and outstanding common shares of Cuprum in consideration for the issuance of 1.1538 Common Shares for each one common share of Cuprum, based on the Common Share price of
Completion of the Acquisition is subject to the final approval of the TSXV. The Acquisition was approved by disinterested shareholders and other matters at the special meeting held on December 4, 2024.
For more information on the Acquisition, please see the management information circular of the Company dated October 25, 2024, and the news releases dated October 1, 2024 and December 4, 2024 available on the Company's SEDAR+ profile at www.sedarplus.ca.
About XXIX Metal Corp.
XXIX (formerly QC Copper and Gold Corp.) is advancing its Opemiska and Thierry Copper projects, two significant Canadian copper assets. The Opemiska Project, Canada's highest-grade copper resource, spans 13,000 hectares in Quebec's Chapais-Chibougamau region, with strong infrastructure and nearby access to the Horne Smelter. A January 2024 resource update reported a
Qualified Person Statement
The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo and géo., Director and Vice President Exploration for XXIX Metal Corp., a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
For further information, please contact:
Stephen Stewart, Chief Executive Officer
Phone: 416.644.1567
Email: info@oregroup.ca
Forward-Looking Statements
This news release contains forward-looking statements. When used in this document, the words "may", "would", " could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions are intended to identify forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, estimated or expected. Specific forward-looking statements in this news release include, but are not limited to, statements pertaining to the commencement of trading of the Common Shares on the TSXV under the new name and new stock ticker. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth above and elsewhere in this news release. The forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement. These statements are given only as of the date of this news release. The Company does not assume any obligation to update these forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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/232969
FAQ
What is the exchange ratio for XXIX Metal Corp's acquisition of Cuprum Corp?
When will XXIX Metal Corp (QCCUF) begin trading under its new ticker symbol?
How many shares will XXIX Metal Corp have outstanding after the Cuprum acquisition?
What major assets does XXIX Metal Corp acquire through the Cuprum Corp purchase?
