KOPR Point Ventures Inc. entered into an agreement to acquire 20% stake in Premium Exploration USA, Inc. from Premium Exploration, Inc. (OTCPK:PMME.F) for $0.76 million.

KOPR Point Ventures Inc. (CNSX:KOPR) ('KOPR') entered into an agreement to acquire 19.98% stake in Premium Exploration USA, Inc. from Premium Exploration, Inc. (OTCPK:PMME.F) for $0.76 million on February 26, 2019. As part of consideration to acquire 200 shares of Premium Exploration, KOPR will make payment of $0.16 million in cash and issue 3 million shares. The consideration shares will be subject to voluntary hold periods.

Under the terms of the agreement, KOPR may acquire, at any time on or after March 1, 2020 and until March 1, 2023, balance of 80.02% stake in Premium Exploration (USA), Inc. in consideration of an additional payment of $1 million and issuing common shares of KOPR equal to $3 million.