BCM Signs Letter of Intent to Acquire 100% Interest in Thompson Knolls Project in Utah, USA

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[{"type":"text","content":"BCM Signs Letter of Intent to Acquire 100% Interest in Thompson Knolls Project in Utah, USAVANCOUVER, BC / ACCESSWIRE / September 15, 2022 / BCM Resources Corp (\"BCM\") (TSXV:B) is pleased to announce that this morning it has entered into a letter of intent (the \"LOI\") for the arm's length acquisition of all of the issued and outstanding shares of Inland Explorations Ltd. (\"Inland\"), a private British Columbia company, to consolidate a 100% ownership interest in BCM's flagship Thompson Knolls (\"TK\") Cu-Au-Mo porphyry project in the southwestern part of Utah, USA (the \"Transaction\").Pursuant to the terms of the LOI, on completion of the Transaction, Inland shareholders are expected to own approximately 49% of the pro forma outstanding shares of BCM, on a basic basis. The Transaction will occur \"at-market\" based on the respective BCM (51%) / Inland (49%) ownership interests in TK. The estimated value of the BCM shares provided to Inland shareholders is $10.3 million at a price of $0.125 per share. BCM originally entered into an option agreement on TK with Inland in September 2018. BCM has subsequently earned 51% interest in the TK project with the right to earn up to a 60% interest via the delivery of a Pre-Feasibility Level Study by April 2025.\"This acquisition of Inland consolidates 100% ownership of BCM's flagship Thompson Knolls asset. BCM shareholders are poised to benefit from a simplified ownership structure as we aggressively explore the large porphyry target at TK\" says Dr. Sergei Diakov, President & Director of BCM.Upon completion of the Transaction, BCM will complete a consolidation of the common shares of the Company at a ratio of five pre-consolidation common shares for one post-consolidation common share (the \"Consolidation\").TRANSACTION DETAILSThe Transaction is expected to be carried out by way of an amalgamation. The Transaction is subject to applicable regulatory and shareholder approvals, including, without limitation, approval of the TSXV, and the satisfaction of certain closing conditions customary in transactions of this nature.Under the terms of the Transaction, Inland shareholders are expected to receive 3.1137 (the \"Exchange Ratio\") of a BCM share for each Inland share held (the \"Consideration\"). All outstanding stock options of Inland are expected to be exchanged for options of BCM ...

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