Canadian Critical Minerals Receives Offer to Purchase Interest in Thierry Mine Project
Canadian Critical Minerals Inc. (CCMI) has received an offer from QC Copper and Gold to purchase all outstanding shares of Cuprum Corp. in an all-share deal. CCMI currently owns 29.9% of Cuprum, which owns 100% of the Thierry Mine project. Following the proposed transaction, CCMI's ownership of QC Copper would be 10.4%.
Key terms of the acquisition include:
- QC Copper will issue 1.1538 common shares for every Cuprum common share
- A total of 82.76 million QC Copper shares will be issued
- CCMI will hold 26.77 million shares in QC Copper, valued at $3.48 million
The acquisition, if completed, will allow CCMI to focus on its Bull River Mine while gaining diversification through Opemiska and retaining interest in Thierry. Shares will be held in escrow for 18 months, with 10% free trading on closing. The transaction is subject to TSXV Exchange and QC Copper's shareholder approval, with expected closing by the end of December 2024.
Canadian Critical Minerals Inc. (CCMI) ha ricevuto un'offerta da QC Copper and Gold per acquisire tutte le azioni in circolazione di Cuprum Corp. in un accordo completamente azionario. CCMI attualmente possiede il 29,9% di Cuprum, che possiede il 100% del progetto Thierry Mine. A seguito della transazione proposta, la partecipazione di CCMI in QC Copper sarebbe del 10,4%.
I termini chiave dell'acquisizione includono:
- QC Copper emetterà 1,1538 azioni comuni per ogni azione comune di Cuprum
- Un totale di 82,76 milioni di azioni QC Copper sarà emesso
- CCMI deterrà 26,77 milioni di azioni in QC Copper, valutate 3,48 milioni di dollari
L'acquisizione, se completata, permetterà a CCMI di concentrarsi sulla sua Bull River Mine mentre guadagna diversificazione attraverso Opemiska e mantiene l'interesse in Thierry. Le azioni saranno detenute in custodia per 18 mesi, con il 10% libero da scambi alla chiusura. La transazione è soggetta all'approvazione del TSXV Exchange e degli azionisti di QC Copper, con una chiusura prevista entro la fine di dicembre 2024.
Canadian Critical Minerals Inc. (CCMI) ha recibido una oferta de QC Copper and Gold para comprar todas las acciones en circulación de Cuprum Corp. en un acuerdo totalmente en acciones. CCMI actualmente posee el 29.9% de Cuprum, que es propietario del 100% del proyecto Thierry Mine. Tras la transacción propuesta, la participación de CCMI en QC Copper sería del 10.4%.
Los términos clave de la adquisición incluyen:
- QC Copper emitirá 1.1538 acciones comunes por cada acción común de Cuprum
- Se emitirán un total de 82.76 millones de acciones de QC Copper
- CCMI tendrá 26.77 millones de acciones en QC Copper, valoradas en 3.48 millones de dólares
La adquisición, si se completa, permitirá a CCMI centrarse en su Bull River Mine mientras obtiene diversificación a través de Opemiska y mantiene el interés en Thierry. Las acciones se mantendrán en depósito durante 18 meses, con un 10% libre de comercio al cerrar. La transacción está sujeta a la aprobación de TSXV Exchange y a la de los accionistas de QC Copper, con una finalización esperada para finales de diciembre de 2024.
캐나다 크리티컬 미네랄스(주)(CCMI)는 QC Copper and Gold로부터 Cuprum Corp.의 모든 유통 주식을 주식 전환 형태로 인수하라는 제안을 받았습니다. CCMI는 현재 Thierry Mine 프로젝트의 100%를 소유하고 있는 Cuprum의 29.9%를 소유하고 있습니다. 제안된 거래가 이루어지면 CCMI의 QC Copper 소유 지분은 10.4%가 됩니다.
인수의 주요 조건은 다음과 같습니다:
- QC Copper는 Cuprum의 일반 주식 1주당 1.1538주의 일반 주식을 발행합니다.
- 총 8276만 주의 QC Copper 주식이 발행될 예정입니다.
- CCMI는 QC Copper에서 2677만 주를 보유하게 되며, 이는 348만 달러로 평가됩니다.
만약 인수가 완료된다면, CCMI는 Bull River Mine에 집중하면서 Opemiska를 통해 다양화하고 Thierry에 대한 관심을 유지할 수 있게 됩니다. 주식은 18개월 동안 에스크로로 보관되며, 거래 종료 시 10%는 자유롭게 거래될 수 있습니다. 이 거래는 TSXV Exchange 및 QC Copper 주주의 승인을 받아야 하며, 2024년 12월 말까지 완료될 것으로 예상됩니다.
Canadian Critical Minerals Inc. (CCMI) a reçu une offre de QC Copper and Gold pour acheter toutes les actions en circulation de Cuprum Corp. dans un accord entièrement en actions. CCMI détient actuellement 29,9 % de Cuprum, qui possède 100 % du projet de la mine Thierry. Suite à la transaction proposée, la participation de CCMI dans QC Copper serait de 10,4 %.
Les conditions clés de l'acquisition incluent :
- QC Copper émettra 1,1538 actions ordinaires pour chaque action ordinaire de Cuprum
- Un total de 82,76 millions d'actions QC Copper sera émis
- CCMI détiendra 26,77 millions d'actions dans QC Copper, évaluées à 3,48 millions de dollars
L'acquisition, si elle est finalisée, permettra à CCMI de se concentrer sur sa mine de Bull River tout en gagnant en diversification grâce à Opemiska et en conservant son intérêt pour Thierry. Les actions seront mises en séquestre pendant 18 mois, avec 10 % en libre échange à la clôture. La transaction est soumise à l'approbation de la TSXV Exchange et des actionnaires de QC Copper, avec une clôture prévue d'ici la fin décembre 2024.
Canadian Critical Minerals Inc. (CCMI) hat ein Angebot von QC Copper and Gold erhalten, um alle ausgegebenen Aktien von Cuprum Corp. in einem rein aktienbasierten Deal zu erwerben. CCMI hält derzeit 29,9% der Anteile an Cuprum, der 100% des Thierry Mine-Projekts besitzt. Nach der vorgeschlagenen Transaktion würde CCMIs Anteil an QC Copper 10,4% betragen.
Wichtige Bedingungen der Akquisition beinhalten:
- QC Copper wird 1,1538 Stammaktien für jede Stammaktie von Cuprum ausgeben
- Insgesamt werden 82,76 Millionen QC Copper-Aktien ausgegeben
- CCMI wird 26,77 Millionen Aktien in QC Copper halten, die einen Wert von 3,48 Millionen Dollar haben
Die Akquisition, sofern sie abgeschlossen wird, ermöglicht es CCMI, sich auf seine Bull River Mine zu konzentrieren und gleichzeitig durch Opemiska Diversifizierung zu erlangen und das Interesse an Thierry zu bewahren. Die Aktien werden für 18 Monate in Treuhand gehalten, wobei 10% zum Zeitpunkt des Abschlusses freihandelbar sind. Die Transaktion unterliegt der Genehmigung durch die TSXV Exchange und die Aktionäre von QC Copper, mit einem voraussichtlichen Abschluss bis Ende Dezember 2024.
- CCMI will gain diversification through QC Copper's Opemiska project while retaining interest in Thierry
- CCMI will receive 26.77 million shares in QC Copper with an implied value of $3.48 million
- The acquisition provides CCMI with liquidity for their current investment in Cuprum
- CCMI's direct ownership in the Thierry Mine project will be reduced
- The value of CCMI's new shares in QC Copper is subject to market fluctuations
- CCMI's shares in QC Copper will be subject to an 18-month escrow period
Calgary, Alberta--(Newsfile Corp. - October 1, 2024) - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") hereby reports that QC Copper and Gold (TSXV: QCCU) (QCCUF) ("QC Copper") has made an offer to purchase all the outstanding shares of Cuprum Corp. ("Cuprum") in an all-share deal (the "Acquisition"). Cuprum is a private company (formerly Pickle Lake Minerals Inc.) which owns
Terms of the Acquisition
QC Copper will issue all shareholders of Cuprum 1.1538 common shares of QC Copper for every Cuprum common share, based on QC Copper's share price of
QC Copper is currently advancing its
The Acquisition, if completed, will allow CCMI to remain focused on its flagship Bull River Mine in British Columbia. CCMI will gain diversification with the addition of Opemiska while retaining a significant interest in Thierry. Given that QC Copper is publicly traded, CCMI will be provided with liquidity for their current investment in Cuprum. Shares will be held in escrow for a period of 18 months with
Cuprum's Board of Directors formed a Special Committee to evaluate the transaction, ensuring the transaction serves the best interests of all shareholders, including CCMI. Independent financial advisory firm Working Capital Corporation provided a fairness opinion, confirming the transaction is fair, from a financial point of view to the shareholders of Cuprum.
The transaction is subject to approval from the TSXV Exchange and QC Copper's disinterested shareholders. Subject to these approvals, closing is expected by the end of December 2024.
About Canadian Critical Minerals Inc.
CCMI is a mining company primarily focused on two near-term copper production assets in Canada. CCMI's main asset is the
Contact Information
Canadian Critical Minerals Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@canadiancriticalmineralsinc.com
Website: www.canadiancriticalmineralsinc.com
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225303
FAQ
What is the offer QC Copper made to purchase Cuprum Corp's shares?
How many shares of QC Copper will CCMI (RIINF) receive in the proposed transaction?
When is the expected closing date for the acquisition of Cuprum Corp by QC Copper?
What will be CCMI's (RIINF) ownership percentage in QC Copper after the proposed transaction?
