Copper News Hubb
Advertisement Banner
  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact
No Result
View All Result
  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home Metal & Minerals Industry

BCM to buy 100% stake in Thompson Knolls Project in US

admin by admin
December 19, 2022
in Metal & Minerals Industry


The Amalgamation closing is subject to the satisfaction of various conditions. Credit: -Rita-👩‍🍳 und 📷 mit ❤ from Pixabay.

Canada-based BCM Resources has signed an amalgamation agreement for the acquisition of British Columbia company Inland Explorations.

With the deal, BCM intends to consolidate a 100% ownership interest in its Thompson Knolls Cu-Au-Mo porphyry project in the southwestern part of Utah, US.

BCM president and director Dr Sergei Diakov said: “This acquisition of Inland consolidates 100% ownership of BCM’s flagship Thompson Knolls asset. BCM shareholders are poised to benefit from a simplified ownership structure as we aggressively explore the large porphyry target at TK.”

Under the agreed terms, BCM and Inland will complete an arm’s length business combination transaction by way of amalgamation, to continue as a new company, BCM Resources Corporation.

In a press statement, BCM said: “Each common share in the capital of the Company (the “BCM Shares”) that is outstanding immediately prior to the Amalgamation (other than BCM Shares held by shareholders of BCM (the “BCM Shareholders”) who exercise their dissent rights) shall be converted into one issued and fully paid and non-assessable common share in the capital of the Resulting Issuer.”

Upon completion of the transaction, former holders of BCM shares will own about 51% of the outstanding shares in new company BCM Resources.

The former holder of Inland Shares will own about 49% of the outstanding of the new company.

This deal awaits due diligence, as well as approval by BCM and Inland shareholders, among others.

Initially, BCM signed an option agreement with Inland in September 2018 for the Thompson Knolls project. Subsequently, BCM earned 51% interest in the project with the right to earn up to a 60% interest through the delivery of a pre-feasibility level study by April 2025.





Source link

Previous Post

Ivanhoe Mines hits back at Sentry, Globe and Mail reports on police search of Vancouver office

Next Post

CKM NEWSLETTER 19-12-2022 – Copperbelt Katanga Mining

Next Post

CKM NEWSLETTER 19-12-2022 - Copperbelt Katanga Mining

Recommended

Gold price declines with focus on rates outlook and recession risks

3 months ago

Ora Banda obtains financing for Australian gold project

1 month ago

GHH raises the bar with NEO with New loader in the 10-ton class

3 months ago

Nickel firm Lygend looks to fetch $470m in Hong Kong listing

2 months ago

1st symposium of mining and quarrying agents: Me Guy Loando explains the missions of mining agents

2 months ago

Integrated power and process automation for mining

2 months ago

© 2022 Copper News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact

© 2022 Copper News Hubb All rights reserved.