No finder’s fee or commission was paid in connection with the Transaction. The Company currently has 222,047,093 issued and outstanding common shares, of which 33,075,383 are held by TCM, representing approximately 15%. The Transaction constituted a Reviewable Transaction pursuant to the policies of the
Early Warning Disclosure by TCM
Pursuant to the Transaction, TCM was issued 21,221,165 Common Shares of the Company (the “Consideration Shares”) at a deemed price of
The Consideration Shares were acquired for investment purposes. TCM has no current plans or intentions which relate to, or would result in, acquiring additional securities of the Company, disposing of securities of the Company, or any other actions described in Item 5 of Form 62-103F1 Required Disclosure under the Early Warning Requirements. TCM may, depending on market and other conditions, increase or decrease its beneficial ownership of or control or direction over the Company’s securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
Further to the requirements of National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 -The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, TCM will file an updated early warning report which will be made available on SEDAR+ at www.sedarplus.ca. Further information and a copy of the early warning report may be obtained by contacting
About
The Company owns a 100% interest in the
The Company also owns a 100% interest in the Ootsa Property, an advanced-stage exploration project containing the Seel and Ox porphyry deposits located adjacent to the open pit
On Behalf of the Board of Directors
“Leif Nilsson”
Chief Executive Officer
For further information, please contact:
Telephone: +1 604 416 2978
Email: info@surgecopper.com
Twitter: @SurgeCopper
LinkedIn:
https://www.surgecopper.com
Neither the
This News Release contains forward-looking statements, which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "will", "may", "should", "expects", "plans", or "anticipates" or the negative of these terms or other comparable terminology. All statements included herein, other than statements of historical fact, are forward-looking statements, including but not limited to the Company’s plans regarding the Berg Property and the Ootsa Property, the receipt of the TSXV’s final acceptance, the issuance of common shares pursuant to the Transaction and the hold period applied thereto and the results of the Berg Property PEA. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. Such uncertainties and risks may include, among others, actual results of the Company's exploration activities being different than those expected by management, delays in obtaining or failure to obtain required government or other regulatory approvals, the ability to obtain adequate financing to conduct its planned exploration programs, inability to procure labour, equipment, and supplies in sufficient quantities and on a timely basis, equipment breakdown, impacts of the current coronavirus pandemic, and bad weather. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect the Company's current judgment regarding the direction of its business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggestions herein. Except as required by applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.
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End Notes:
1) See “Berg Project 43-101 Technical Report and Preliminary Economic Assessment” Effective Date
2) See “A Mineral Resource Estimate Update for the Seel and Ox Deposits – Ootsa Property, August 2022” Effective Date
Source:
2024 GlobeNewswire, Inc., source