QC Copper and Gold Inc. completed the acquisition of Opemiska Copper Mine Complex from Explorateurs-Innovateurs de Québec inc.
expenditures on Opemiska, issue 1.5 Million shares and 1.5 Million warrants ($0.25 exercise price) and pay $150,000 to Ex-In; By the 30th Month after the effective date, Power Ore will incur an additional $1,000,000 in work expenditures on Opemiska, issue 2 Million shares and 2 Million warrants ($0.30 exercise price) and pay $300,000 to Ex-In; By the 42nd Month after the effective date, Power Ore will incur an additional $1,500,000 on Opemiska, issue 3 Million shares and 3 Million warrants ($0.35 exercise price) and pay $1,000,000 to Ex-In. The Opemiska Copper Complex is subject to a 2% NSR, 50% of which can be re-purchased by Power Ore at a cost of $4.5 million.The closing of the transaction, which is a fundamental acquisition, remains subject to final approval of the TSX Venture Exchange, as well as certain other conditions as are customary in transactions of this nature.
QC Copper and Gold Inc. (TSXV:QCCU) completed the acquisition of Opemiska Copper Mine Complex from Explorateurs-Innovateurs de Québec inc. on June 27, 2023.