- Alpha Copper Corp. (ALCU) has acquired CAVU Energy Metals Corp. (CAVU)
- Each CAVU shareholder received 0.7 of a common share of Alpha Copper for each CAVU share held
- Alpha Copper issued a total of 25,485,016 shares, resulting in the existing Alpha and former CAVU shareholders owning approximately 69.5 per cent and 30.5 per cent, respectively of the Alpha shares
- The CAVU shares are expected to be delisted from the CSE at the close of trading on December 19, 2022
- Alpha Copper Corp. was up 7.14 per cent, trading at $0.225 at 10:54 ET
Alpha Copper Corp. (ALCU) has acquired CAVU Energy Metals Corp. (CAVU).
The acquisition of all of the issued and outstanding common shares of CAVU by Alpha was in line with a statutory plan of arrangement under the Business Corporations Act (British Columbia).
The transaction was consummated with each holder of CAVU shares receiving 0.7 of a common share of Alpha Copper for each CAVU share held.
Alpha Copper issued an aggregate of 25,485,016 Alpha shares, resulting in the existing Alpha and former CAVU shareholders owning approximately 69.5 per cent and 30.5 per cent, respectively, of the Alpha shares outstanding on a non-diluted basis.
As part of the transaction, all outstanding options of CAVU will vest immediately and be exchanged for the number of options to purchase Alpha shares based on the exchange ratio, and holders of CAVU warrants will be entitled, in accordance with the terms of such warrants, to receive Alpha shares on the exercise of such warrants.
As a result of the transaction, Alpha acquired CAVU’s interest in the Hopper Copper-Gold Project in the Yukon and the Star Copper-Gold Porphyry Project in British Columbia.
Alpha has received acceptance from the Canadian Securities Exchange to list the Alpha shares issued in connection with the transaction on the CSE.
The CAVU shares are expected to be delisted from the CSE at the close of trading on or about December 19, 2022.
Alpha Copper Corp. is a Canada-based mineral exploration company focused on advancing the Indata Project in north-central British Columbia.
Alpha Copper Corp. was up 7.14 per cent, trading at $0.225 at 10:54 ET.