Allied Copper Corp. (CPR:TSX; CPRRF:OTCQB) was granted the option to acquire the Klondike property pursuant to an amendment of the option agreement dated Dec. 3., 2021.
In exchange for 100% of Klondike, Allied Copper must spend US$4,750,000 on exploration there over four years (Allied must spend at least CA$500,000 before the first anniversary of the closing date).
Allied must pay a total of $400,000 in cash over four years to Cloudbreak Discovery (Canada) and Alianza.
Allied must issue a total of 7,000,000 common Allied Copper shares to those same two companies before the second anniversary of the closing.
Allied must issue an aggregate of 3,000,000 common Allied share purchase warrants to Cloudbreak Discovery (Canada) and Alianza on the third anniversary of the closing. With each warrant, the holder has three years to buy one common Allied share at whichever price is greater: $0.23 or the 10-day volume-weighted average share sale price on such date.
If Allied exercises the acquisition option, it must grant a 2% net smelter returns royalty to the optionors. Finally, Allied must issue an additional 3,000,000 common Allied share purchase warrants to Cloudbreak Discovery (Canada) and Alianza if Allied files a resource estimate that meets certain requirements.
Disclosures
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Allied Copper Corp. Click here for important disclosures about sponsor fees. An affiliate of Streetwise Reports is conducting a digital media marketing campaign for this article on behalf of Allied Copper Corp. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Allied Copper Corp., a company mentioned in this article.
