- Allied Copper (CPR) has signed an agreement to acquire 100 per cent of the issued and outstanding shares of Volt Lithium Corp.
- This is in line with a share-purchase agreement dated October 31, 2022, among shareholders of Volt and the company
- Volt currently holds approximately 400,000 acres of mines and mineral permits in the Rainbow Lake area of Alberta
- The acquisition will give Allied an opportunity to expand both its asset base and development focus to include a broader range of battery metals
- Allied Copper is a mineral exploration company focused on acquiring and developing potential long-life, scalable copper and/or gold assets in the Western U.S.
- Allied Copper Corp. (CPR) opened unchanged trading at $0.13 per share
Allied Copper (CPR) has signed an agreement to acquire 100 per cent of Volt Lithium.
The acquisition is in accordance with a share-purchase agreement dated October 31, 2022, among shareholders of both companies.
Volt currently holds approximately 400,000 acres of mines and mineral permits in the Rainbow Lake area of Alberta.
The acquisition will allow Allied to expand both its asset base and development focus to include a broader range of battery metals that represent key inputs supporting the global energy transition.
“The acquisition of Volt and retention of its key management team members helps position Allied Copper as a responsible contributor to the world’s battery metals supply, as our combination of copper and now lithium assets are both situated in high-integrity jurisdictions featuring robust regulatory regimes and strong environmental regulation,” stated Warner Uhl, Allied’s Executive Chairman.
As consideration for the acquisition, the company will issue 39,840,000 common shares, representing a ratio of 1.92 consideration shares for each Volt share held by the vendors.
Upon completion of the acquisition, the vendors will own approximately 49 per cent of the issued and outstanding shares in the capital of the company, on a non-diluted basis.
Allied Copper is a mineral exploration company focused on acquiring and developing potential long-life, scalable copper and/or gold assets in the Western U.S.
Allied Copper Corp. (CPR) opened unchanged trading at $0.13 per share.
