Business
C3 Metals Sells Interest in Rogers Creek Copper Project, BC
Toronto, Ontario--(Newsfile Corp. - October 1, 2021) - C3 Metals Inc. (TSXV: CCCM) ("C3 Meta...
About this update from C3 Metals Inc.
[{"type":"text","content":"C3 Metals Sells Interest in Rogers Creek Copper Project, BCToronto, Ontario--(Newsfile Corp. - October 1, 2021) - C3 Metals Inc. (TSXV: CCCM) (\"C3 Metals\" or the \"Company\") is pleased to announce that is has entered into a purchase and sale agreement with Tocvan Ventures Corp. (CSE: TOC) (OTCQB: TCVNF) (FSE: TV3) (WKN: A2PE64) (\"Tocvan\") whereby Tocvan will acquire the Company's 100% interest in the Rogers Creek Property located in British Columbia (the \"Purchase and Sale Agreement\"). Previously Tocvan held an option to acquire up to an 80% interest in the Rogers Creek Property from C3 Metals.Under the terms of the Purchase and Sale Agreement, Tocvan will acquire a 100% interest in the Rogers Creek Property and the previous option agreement will terminate. In consideration for entering into the Purchase and Sale Agreement, C3 Metals will receive 500,000 common shares of Tocvan and will retain a 2% NSR on the Rogers Creek Property, 1% of which can be repurchased for $1 million. C3 Metals will also receive common shares of Cascade Copper Corp. (\"Cascade Copper\") (described below) equal to a value of $75,000, based on the prelisting finance price, and once listed on the Canadian Securities Exchange (CSE).Tocvan will, subject to shareholder and regulatory approval, spin-out 100% of the Rogers Creek Property into Cascade Copper, a newly created company, which will focus on copper porphyry exploration assets in southern British Columbia.Kevin Tomlinson, President and CEO of C3 Metals stated, \"This sale to Tocvan will continue the Company's strategy of monetizing value from its non-core assets. It will also give Tocvan and its planned spinout company a quality project to explore and create additional value for its shareholders.\"For additional information, contact: Kevin TomlinsonPresident & [email protected] RowlandsVice President, Investor Relations+1 416 572 2512 [email protected] C3 METALS INC.C3 Metals Inc. is a Canadian-based exploration company focused on the discovery and development of large copper-gold deposits with properties in Peru, Jamaica and Canada.The Company's flagship project is the Jasperoide high-grade copper-gold skarn and porphyry system located in the prolific Andahuaylas-Yauri Mineral Belt of southern Peru. Mineralization at Jasperoide is hosted in a similar geological sett...