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Axo Copper Announces Acquisition of Past Producing San Antonio Gold Project from Osisko Development
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTIO...
About this update from Axo Metals Corp.
[{"type":"text","content":"Axo Copper Announces Acquisition of Past Producing San Antonio Gold Project from Osisko DevelopmentTHIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES HALIFAX, NS / ACCESS Newswire / November 24, 2025 / Axo Copper Corp. (TSXV:AXO) (\"Axo Copper\" or the \"Company\") is pleased to announce that it has entered into (i) a definitive purchase agreement (the \"Purchase Agreement\") on November 21, 2025 to acquire Sapuchi Minera S. de R.L. de C.V. (\"Sapuchi Minera\") from Osisko Development Corp. (\"Osisko Development\") (the \"Transaction\") and (ii) a share issuance agreement with OR Royalties International Ltd. (\"OR International\"), a wholly-owned subsidiary of OR Royalties Inc. (the \"Share Issuance Agreement\"). Sapuchi Minera holds a 100% economic interest in the San Antonio Gold Project (\"San Antonio\" or the \"Project\") located in Sonora State, Mexico. Upon closing of the Transaction, Sapuchi Minera and OR International have agreed to enter into an amended and restated stream agreement (the \"Amended Stream Agreement\"), as further described below, and subject to customary closing conditions relating thereto. All dollar amounts are in U.S. dollars, unless otherwise noted.The consideration payable to Osisko Development under the Purchase Agreement consists of the issuance of, subject to adjustment in accordance with the terms of the Purchase Agreement, 15,305,536 common shares of Axo Copper (\"Axo Shares\"), or such other number of Axo Shares that would result in Osisko Development owning 9.99% of the issued and outstanding Axo Shares upon the completion of the Transaction and certain contingent payments, as described below. The consideration payable to OR International under the Share Issuance Agreement consists of the issuance of, subject to adjustment in accordance with the terms of the Purchase Agreement, 7,652,768 Axo Shares, or such other number of Axo Shares that would result in OR International owning 4.99% of the issued and outstanding Axo Shares upon the completion of the Transaction and certain contingent payments payable by Sapuchi Minera, as described below.Jonathan Egilo, Axo Copper's CEO, commented: \"We are excited to announce this transformational acquisition for Axo, and we welcome n...