Latest news with #GraniteCreekCopper
Yahoo
3 days ago
- Business
- Yahoo
Cascadia to acquire Granite Creek Copper, enhancing copper-gold exploration in Yukon
Canadian junior mining company Cascadia Minerals has entered a definitive arrangement agreement to acquire all issued and outstanding shares of Granite Creek Copper. The companies will merge to create a copper-gold exploration and development company combining Granite Creek's advanced Carmacks Project with Cascadia's copper-gold exploration projects portfolio across the Stikine Terrane in Yukon, Canada. Under the agreement, Granite Creek shareholders will receive a 48% premium based on the company's recent average trading price, with each Granite Creek share exchanged for 0.25 of a Cascadia share. The Cascadia shares are valued at C$0.04 ($0.029) per Granite Creek share. Upon completion, Cascadia shareholders will hold a 59% interest, while Granite Creek's will have 41% of the combined company. Cascadia will be well-financed with approximately C$2.5m in cash to fund ongoing work on the combined property portfolio. Granite Creek CEO and president Tim Johnston said: 'This merger is a logical next step for both companies and will result in a combined entity with a robust portfolio of projects that will be positioned for success in these strong copper and gold markets. I look forward to remaining involved with Cascadia and moving the Carmacks Project forward towards development.' The Carmacks Project, a high-grade copper and gold exploration and development site, is a key asset in the deal, offering strong resource potential and positive economic forecasts. The project is strategically located within the Minto Copper Belt, known for its significant copper-gold-silver deposits. The project's proximity to the past-producing Minto mine and access to infrastructure enhances its value. Cascadia CEO and president Graham Downs said: 'The Carmacks Project provides a strong foundation of road-accessible resources in a safe jurisdiction. Our team is confident in the exploration potential around the main deposits and throughout the property. 'We look forward to building on the systematic work Granite Creek has conducted in recent years by growing near-deposit resources and exploring along trend toward the nearby Minto deposit to the north. Planning is already under way for a fall drill programme at Carmacks, while work advances in parallel at our Catch Property and other discovery-stage Yukon Stikine projects.' The terms of the transaction require approval from Granite Creek shareholders and option holders, with a special meeting expected in July 2025. Regulatory approvals, including from the TSX Venture Exchange, are also necessary for the deal to close. In conjunction with the transaction, Cascadia is conducting a non-brokered private placement to raise up to C$2.25m. The funds will be used for exploration on the Carmacks Project and to cover transaction-related expenses. Cascadia has also agreed to provide Granite Creek with a bridge loan of C$375,000 to cover transaction costs. Additionally, Granite Creek plans to settle debts with TruePoint Exploration and a royalty holder through a shares for debt transaction, subject to TSX Venture Exchange approval. In October 2024, Stillwater Critical Minerals signed a letter of intent with Granite Creek Copper to finalise a definitive agreement to divest a 90% stake in the Duke Island project in Alaska, US. "Cascadia to acquire Granite Creek Copper, enhancing copper-gold exploration in Yukon" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Associated Press
29-04-2025
- Business
- Associated Press
Granite Creek Sells Hydrogen Projects
VANCOUVER, BC / ACCESS Newswire / April 29, 2025 / Granite Creek Copper Ltd. (TSX.V:GCX)(OTCPK:GCXXF) ('Granite Creek' or the 'Company') is pleased to announce that the company has entered into a sale and purchase agreement with Buscando Resources Corp. (CSE:BRCO) for the sale of the Company's wholly owned subsidiary, Element One Hydrogen Corp. The sale includes the Union Bay and Star Projects as well as the Element One Hydrogen brand. Granite Creek will receive total consideration of $150,000 CDN for this transaction. The transaction is expected to close within 30 days. The Company will retain the rights to any re-imbursement for work completed on the Star project for 2024 and 2025 through the NRCan funded research project being completed in partnership with Kemetco Research (see news release dated February 24, 2025). The company will also retain the rights to any payments due to the company in connection with the first year of the option agreement the Company entered into with 1508260 B.C. Ltd (see news release dated December 17, 2024) About Granite Creek Copper Granite Creek Copper, a member of the Metallic Group of Companies, is a focused on the exploration and development of critical minerals projects in North America. The Company's projects consist of its flagship 177 square kilometer Carmacks project in the Minto copper district of Canada's Yukon Territory on trend with the formerly operating, high-grade Minto copper-gold mine and the advanced stage LS molybdenum project and the Star copper-nickel-PGM project, both located in central British Columbia. More information about Granite Creek Copper can be viewed on the Company's website at FOR FURTHER INFORMATION PLEASE CONTACT: Timothy Johnson, President & CEO Telephone: 1 (604) 235-1982 Toll Free: 1 (888) 361-3494 E-mail: [email protected] Website: Qualified Person Debbie James has reviewed and approved the technical information pertinent to Ni-Cu-PGM mineralization contained in this news release. Ms. James is a Qualified Person as defined in NI 43-101. Forward-Looking Statements Forward Looking Statements: This news release includes certain statements that may be deemed 'forward-looking statements' or 'forward-looking information'. All statements in this release, other than statements of historical facts including, without limitation, statements regarding expected use of proceeds from the private placement and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE: Granite Creek Copper Ltd. press release
Associated Press
05-02-2025
- Business
- Associated Press
Granite Creek Copper Announces Participation in Ultramafic Technology Development Project Targeting the Star Property
VANCOUVER, BC / ACCESS Newswire / February 5, 2025 / Granite Creek Copper Ltd. (TSXV:GCX)(OTCQB:GCXXF) ('Granite Creek' or the 'Company') is pleased to announce its participation in a new technology development project designed to target ultramafic rocks prospective for nickel and other critical minerals to enhance the economic potential of permanent carbon sequestration. The Company will supply material from its 100%-owned Star Ni-Cu-PGE project located in central British Columbia, which has been identified as including areas with suitable geology for application of the technology. The technology development project, entitled, 'Development of Extraction and Carbonation Technology for Ultramafic Rocks', is being led by Kemetco Research Inc. ('Kemetco'). The project will primarily focus on laboratory and pilot-scale development work for the technology aimed at enhanced metal extraction with a high level of carbon sequestration through carbonation of magnesium minerals. Tim Johnson, President & CEO stated, 'The breadth of utility of ultramafic rocks continues to impress as exciting new technological advances and focus are brought to bear. Already prospective for nickel, copper, cobalt and platinum group metals the Star project can add carbon sequestration and geologic hydrogen production to the potential uses for the rocks found on site.' About the Star Property The Star project is located 190 kilometers northeast of Smithers, BC and is within 5 kilometers of the Omineca Resource Road and powerline that served the Kemess Mine. The 2500-hectare project is underlain by ultramafic rocks that are prospective for copper, nickel, cobalt, PGMs and gold as well as carbon sequestration and geologic hydrogen production. Corporate Update The Company also announces the departure of Chris Ackerman as VP Corporate Development. Mr. Ackerman has been a key member of the Granite Creek team since its original membership within the Metallic Group of Companies in 2019. The Company would like to thank Chris for his tireless dedication through difficult market conditions and wishes him the best in his future endeavors About Granite Creek Copper Granite Creek Copper is a focused on the exploration and development of critical minerals projects in North America and more recently on geologic hydrogen. The Company's projects consist of its flagship 177 square kilometer Carmacks project in the Minto copper district of Canada's Yukon Territory on trend with the formerly operating, high-grade Minto copper-gold mine and the advanced stage LS molybdenum project and the Star copper-nickel-PGM plus geological hydrogen project, both located in central British Columbia. Recent acquisitions include the Union Bay geologic hydrogen project as well as entering into a letter of intent to acquire the Duke Island ultramafic project for it's geologic hydrogen potential, both projects located in the state of Alaska. Granite Creek's goal is to be among the companies with first mover advantage in geologic hydrogen exploration by leveraging the considerable geological knowledge available to the company through its existing employee and consultant base plus the addition of key consultants with extensive knowledge in the field. More information about Granite Creek Copper can be viewed on the Company's website at FOR FURTHER INFORMATION PLEASE CONTACT: Timothy Johnson, President & CEO Telephone: 1 (604) 235-1982 Toll Free: 1 (888) 361-3494 E-mail: [email protected] Qualified Person Mr. Douglas Warkentin, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Mr. Warkentin is a Senior Metallurgist with Kemetco Research and an advisor to the Company. Forward-Looking Statements Forward-Looking Statements: This news release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
