Allied Copper Corp. (TSXV:CPR) agreed to acquire Volt Lithium Corp. from Alex Wylie and others for CAD 5.17 million on October 31, 2022.

As consideration for the acquisition, the Company will issue 38,880,000 common shares in the capital of Allied Copper to the vendors, representing a ratio of 1.92 Consideration Shares for each Volt Share held by the vendors, rounded down to the nearest whole number. Upon completion of the acquisition, the vendors will own approximately 49% of the issued and outstanding shares in the capital of the Company, on a non-diluted basis. The consideration shares will be subject to a four-month hold period pursuant to applicable Canadian securities laws.

In connection with the completion of the acquisition, Alex Wylie, will be appointed as the President of Allied Copper. In connection with the completion of the acquisition, current directors J. Campbell Smyth and David Eaton will resign from the board, and will be replaced by Wylie and Marty Scase. Scase will be an ?independent director?

as that term is defined in National Instrument 58-101 Disclosure of Corporate Governance Practices. Uhl and Hookey will continue to act as directors of the Company, with Uhl also continuing to serve as Executive Chairman. The Acquisition is subject to standard closing conditions, including the approval of the TSX Venture Exchange (the ?TSXV?).

Subject to receiving the approval of the TSXV, and the satisfaction of the remaining closing conditions. The Consideration Shares have been approved for listing on the TSX Venture Exchange. The Acquisition is expected to close on or about November 16, 2022.

As of November 25, 2022, the transaction is expected to close on December 8, 2022.