QC Copper and Gold Inc. (TSX-V:QCCU, OTCQB:QCCUF) announced it has secured the support of over 90% of Cuprum shareholders for its proposed merger.
The transaction is expected to close in early December 2024, positioning QC Copper as one of Eastern Canada's largest copper developers.
The merger, announced at the start of last month, included an agreement to exchange their shares at a ratio of 1.1538 QC Copper shares per Cuprum share.
Upon completion, QC Copper will adopt the new name XXIX Metal Corp (TSXV:XXIX), reflecting copper's atomic number, 29.
The new company integrates Cuprum’s Thierry project with QC Copper's flagship Opemiska project, creating one of Canada’s most extensive copper portfolios.
The acquisition is anticipated to increase QC Copper’s copper resource base by approximately 70%, significantly boosting its growth trajectory in the critical minerals sector.
The company aims to advance both projects, with a focus on updating resource estimates for Thierry and progressing toward a Preliminary Economic Assessment (PEA) for Opemiska.