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Copper Road Announces Sale of Copper Road Project to Sterling Metals Corp.

Copper Road Announces Sale of Copper Road Project to Sterling Metals Corp.

铜路宣布将铜路项目出售给斯特林金属公司
GlobeNewswire ·  02/14 09:13

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

本新闻稿仅在加拿大发行,不打算分发给美国新闻通讯社或在美国传播。

TORONTO, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Copper Road Resources Inc. (TSXV: CRD, OTCQB: SAGGF) ("Copper Road" or the "Company") is pleased to announce that it has entered into an arm's length definitive share purchase agreement dated February 13, 2024 (the "Agreement") with Sterling Metals Corp. (TSXV: SAG, OTCQB: SAGGF) ("Sterling") and 100797918 Ontario Inc. (the "Subsidiary"), a wholly-owned subsidiary of the Company, pursuant to which Sterling has agreed to acquire a 100% interest in the 24,000-hectare Copper Road Project located in Batchewana Bay, Ontario ("Project") from the Company (the "Transaction"). The property package hosted two past-producing copper mines, the Tribag Mine and the Coppercorp Mine, and the Project has several confirmed zones of mineralization, with each zone containing multiple under-explored mineralized breccia pipes. The Completion of the Transaction is subject to the approval of shareholders of the Company and the TSX Venture Exchange (the "TSXV"), and certain other conditions as further described below.

多伦多,2024年2月14日(环球通讯社)——铜路资源公司(多伦多证券交易所股票代码:CRD,OTCQB:SAGGF)(“铜路” 或 “公司”)欣然宣布,它已于2024年2月13日与斯特林金属公司(多伦多证券交易所股票代码:SAG,OTCQB:SAGF)(“Sterling”)签订了日期为2024年2月13日的最终股票购买协议(“协议”)以及100797918 Ontario Inc.(“子公司”),该公司全资子公司,根据该公司,斯特林已同意收购位于安大略省巴奇瓦纳湾的占地24,000公顷铜路项目的100%权益(”来自公司的项目”)(“交易”)。该地产包拥有两个过去生产的铜矿,即Tribag矿和Coppercorp矿,该项目有多个已确认的矿化区,每个区域都包含多条未开发的矿化角砾岩管道。交易的完成须经公司和多伦多证券交易所风险交易所(“TSXV”)股东的批准,以及下文进一步描述的某些其他条件。

Mark Goodman, Chairman of Copper Road stated, "We are pleased to partner with Sterling on a transaction that is compelling on many levels. This transaction not only provides immediate capital but also brings forth dedicated technical expertise crucial for advancing the Copper Road Project swiftly. Additionally, with the Project in a larger portfolio, we have multiple opportunities for discovery and advancement in tier 1 jurisdictions."

Copper Road董事长马克·古德曼表示:“我们很高兴与斯特林合作进行一项在许多层面上都具有吸引力的交易。该交易不仅提供了即时资金,而且还带来了对迅速推进铜路项目至关重要的专业技术专长。此外,随着该项目的投资组合扩大,我们有多个在一级司法管辖区进行发现和推进的机会。”

Mathew Wilson, CEO of Sterling Metals, stated, "The Copper Road Project is a compelling asset which for decades has seen fractured exploration until the consolidation of the land package by the Copper Road team in 2021. Difficult markets have made the Project's advancement challenging but together, with our first-class team and strong treasury, this land package can see a regional targeting approach that builds upon the success of the Copper Road team's consolidation and recent porphyry and high-grade breccia discoveries." Mr. Wilson, continued, "Importantly, the addition of the Project complements our existing portfolio of Canadian exploration opportunities, and provides a suite of projects focused on extensive mineral systems positioning us very well in anticipation of an upcoming copper super cycle. While our focus will shift primarily to advancing Copper Road upon closing of the Transaction, we will remain committed to understanding Adeline's potential, providing the best leverage possible for our shareholders."

斯特林金属首席执行官马修·威尔逊表示:“铜路项目是一项引人注目的资产,在铜路团队于2021年整合一揽子土地之前,该项目的勘探一直处于分裂状态。艰难的市场使该项目的进展充满挑战,但加上我们一流的团队和强大的财力,这套土地一揽子计划可以在Copper Road团队的成功整合以及最近斑岩和高品位角砾岩发现的基础上采取区域定位方法。”威尔逊先生继续说:“重要的是,该项目的加入补充了我们现有的加拿大勘探机会组合,并提供了一系列专注于广泛矿产系统的项目,使我们能够很好地应对即将到来的铜超级周期。虽然我们的重点将主要转移到交易完成后推进铜业之路上,但我们将继续致力于了解Adeline的潜力,为我们的股东提供尽可能好的杠杆作用。”

Terms of the Transaction

交易条款

Pursuant to the terms of the Agreement, Sterling will acquire the Subsidiary, which will hold the Project immediately prior to the completion of the Transaction, in consideration for the issuance to the Company of such number of common shares (the "Consideration Shares") in the capital of Sterling (the "Sterling Shares") that will be equal to 49% of the issued and outstanding Sterling Shares immediately prior to the closing of the Transaction, together with aggregate cash payments of $460,000 to the Company, comprised of $200,000 payable on execution of the Agreement and $260,000 upon closing of the Transaction.

根据协议条款,Sterling将收购该子公司,该子公司将在交易完成前夕持有该项目,以对价向公司发行一定数量的普通股(“对价股”),相当于交易结束前已发行和流通的英镑股份的49%,同时向公司支付的现金总额为46万美元,包括执行时应支付的20万美元协议和交易完成后的26万美元。

The Agreement contains customary representations, warranties, covenants, conditions precedent and other terms and conditions. Following the completion of the Transaction, Copper Road intends to distribute at least 90.1% of the Consideration Shares that it is to receive to its shareholders on pro rata basis. There can be no assurance that the Transaction will be completed as proposed, or at all.

本协议包含习惯陈述、保证、契约、先决条件和其他条款和条件。交易完成后,Copper Road打算向股东分配至少90.1%的对价股 按比例计算 基础。无法保证交易将按提议完成,或者根本无法保证。

Completion of the Transaction is subject to customary conditions including, but not limited to: (i) the approval of shareholders of Copper Road of certain matters related to Transaction; (ii) receipt of all required consents; and (iii) the approval of the Transaction by the TSXV. The Transaction is a "Reviewable Disposition" for Copper Road as such term is defined under the policies of the TSXV.

交易的完成受惯例条件的约束,包括但不限于:(i)Copper Road股东批准与交易相关的某些事项;(ii)收到所有必需的同意;以及(iii)交易获得多伦多证券交易所的批准。该交易是铜路的 “可审查处置”,该术语由多伦多证券交易所的政策定义。

Further Details Regarding the Transaction

有关交易的更多细节

The board of directors of Copper Road approved the Transaction and will recommend that shareholders of the Company vote in favour of the sale of the Project at a special meeting of shareholders of Copper Road expected to be held in Q2 2024 (the "Copper Road Meeting"). Further details regarding the Transaction will be provided in a management information circular (the "Circular") to be prepared in connection with the Copper Road Meeting. The Agreement and the Circular, once mailed, will be filed under the Company's issuer profile on SEDAR+ at .

铜路董事会批准了该交易,并将建议公司股东在预计于2024年第二季度举行的铜路股东特别会议(“铜路会议”)上投票赞成出售该项目。有关该交易的更多细节将在与铜路会议相关的管理信息通告(“通函”)中提供。协议和通函一旦寄出,将在SEDAR+的公司发行人简介下提交,网址为。

About Copper Road Resources

关于铜路资源

Copper Road Resources (TSXV: CRD) is a Canadian based explorer engaged in the acquisition, exploration and evaluation of properties for the mining of precious and base metals. The Company is exploring for large copper/gold deposits on the 24,000-hectare Batchewana Bay Project, 80 km north of Sault St. Marie, Ontario, Canada.

铜路资源(TSXV:CRD)是一家总部位于加拿大的勘探公司,从事贵金属和基本金属开采物业的收购、勘探和评估。该公司正在加拿大安大略省苏圣玛丽以北80公里处的占地24,000公顷的巴奇瓦纳湾项目上勘探大型铜/金矿床。

About Sterling Metals

关于英镑金属

Sterling is a mineral exploration company focused on large scale and high-grade Canadian exploration opportunities. Sterling is advancing the Adeline Project in Labrador which covers an entire sediment-hosted copper belt, with demonstrated potential for important new copper discoveries with significant silver credits, and the Sail Pond Project in Newfoundland.

Sterling 是一家矿产勘探公司,专注于加拿大的大规模和高品位勘探机会。斯特林正在推进拉布拉多的艾德琳项目和纽芬兰的帆池项目,该项目覆盖了整个沉积物承载的铜带,已证明有可能发现具有大量银信用的重要新铜。

For more information, please contact:

欲了解更多信息,请联系:

Mark Goodman, Chairman
Cellular: 416.324.9613
Email: mgoodman@libralithium.com
Web:

董事长马克·古德曼
蜂窝电话:416.324.9613
电子邮件:mgoodman@libralithium.com
网页:

Cautionary Statement Regarding Forward-Looking Information

关于前瞻性信息的警示声明

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the completion of the Transaction, the number of securities of Sterling that may be issued in connection with the Transaction, the distribution by the Company of the Consideration Shares and the ownership of Sterling following the Transaction, shareholder and regulatory approval, including, without limitation, the approval of the TSXV, the anticipated timing of the meeting of Copper Road Shareholders, and the parties' ability to satisfy closing conditions and receive necessary approvals. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company's management, there can be no assurance that the Transaction will occur, or that if the Transaction does occur, it will be completed on the terms described above.

本新闻稿中包含的某些陈述构成前瞻性信息。这些陈述与未来事件或未来表现有关。对于非历史事实的事项,使用 “可能”、“打算”、“期望”、“相信”、“将”、“预测”、“估计” 等任何词语以及类似的表述和陈述,均旨在识别前瞻性信息,并基于公司目前对此类未来事件的结果和时间所持的看法或假设。未来的实际结果可能存在重大差异。特别是,本新闻稿包含与交易完成、可能发行的与交易相关的英镑证券数量、交易后公司分配对价股和英镑所有权、股东和监管部门的批准等前瞻性信息,包括但不限于多伦多证券交易所的批准、铜路股东会议的预期时间以及双方满足成交条件和获得资金的能力必要的批准。在得出结论或做出前瞻性信息中提出的预测或预测时,通常会使用各种假设或因素。这些假设和因素基于公司目前获得的信息。尽管此类陈述基于公司管理层的合理假设,但无法保证交易会发生,也无法保证如果交易确实发生,将按照上述条款完成。

Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the receipt of all necessary regulatory and shareholder approvals and satisfaction of other conditions to the completion of the Transaction, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title and environmental risks and risks relating to the failure to receive all requisite shareholder and regulatory approvals.

本新闻稿中包含的前瞻性信息基于某些因素和假设,这些因素和假设涉及获得所有必要的监管和股东批准以及完成交易的其他条件的满足以及其他类似事项。尽管根据他们目前获得的信息,公司认为这些假设是合理的,但这些假设可能被证明是不正确的。前瞻性信息涉及已知和未知的风险、不确定性和其他因素,这些因素可能导致实际业绩、业绩或成就与前瞻性信息所表达或暗示的任何未来业绩、业绩或成就存在重大差异。这些因素包括矿床勘探和开发固有的风险,包括计划不断重新界定时与项目参数变化相关的风险、与品位或回收率变动相关的风险、与矿产价格变化和全球矿产需求和供应相关的风险、与竞争加剧和当前全球金融状况相关的风险、准入和供应风险、对关键人员的依赖、运营风险、监管风险,包括与收购必要物品有关的风险执照和许可证, 融资, 资本化和流动性风险, 所有权和环境风险以及与未能获得所有必要的股东和监管机构批准有关的风险.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

多伦多证券交易所及其监管服务提供商(该术语在多伦多证券交易所的政策中定义)均不对本新闻稿的充分性或准确性承担责任。


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