Canadian Copper (CSE:CCI) has announced the completion of its sale transaction of the Turgeon project to Raptor Resources. The company made this announcement today, marking a significant step in its strategic asset management.
“We are confident that New Brunswick is as an excellent jurisdiction to discover, permit, build, and operate new critical mineral mines. This is excellent news to see now a growing list of companies like Raptor deploy their exploration expertise and capital in the Bathurst Camp. We will watch your progress with great interest,” Simon Quick, CEO of Canadian Copper, stated.
The company initially announced two sale agreements for its Chester and Turgeon Projects on March 4th, 2024. Canadian Copper explained that this decision aligns with its strategy to focus on the Murray Brook Project and consolidate it with the Caribou Processing Complex.
The transaction has yielded significant consideration for Canadian Copper. The company has received $1,462,628 in cash and 27,267,609 common shares in Eastern Metals Limited (EMS), soon to be renamed Raptor. EMS currently trades on the Australian Stock Exchange under the ticker EMS at AUD$0.038 per share. These shares will become free-trading on December 15th, 2026. Additionally, Canadian Copper has acquired 8,343,316 EMS performance rights, set to expire on December 15th, 2030.
This transaction represents a significant development for Canadian Copper as it refines its project portfolio and focuses its resources on key assets in the Bathurst mining camp.
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