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Interra Copper Announces Proposed Acquisition of Alto Verde Copper and Coincident Financing
December 2nd, 2022 – TheNewswire - VANCOUVER, British Columbia – Interra Copper Corp. (“Interra” or the “Company”) (CSE:IMCX) (OTC:IMIMF) (FRA:3MX) is pleased t
About this update from Copper Quest Exploration Inc.
[{"type":"text","content":"December 2nd, 2022 – TheNewswire - VANCOUVER, British Columbia – Interra Copper Corp. (“Interra” or the “Company”) (CSE:IMCX) (OTC:IMIMF) (FRA:3MX) is pleased to announce that it has entered into a Non-binding letter of intent dated December 2nd, 2022 (the “LOI”) with Alto Verde Copper Inc. (“Alto Verde”), in respect of a proposed acquisition of Alto Verde (the “Proposed Transaction”) expected to be completed by way of three-cornered amalgamation. Pursuant to the Proposed Transaction, a newly created wholly-owned subsidiary of the Company will amalgamate with Alto Verde, to create a new company (“Newco”) with Newco becoming a wholly-owned subsidiary of the Company at closing. The Company’s focus remains on advancing its copper projects, supported by the long-term view on copper supply / demand economics. With this proposed transaction, the company adds copper exploration properties in an prolific copper belt in Chile, South America, that are potentially scalable. Chile remains a geo-politically secure region, producing more than a quarter of the world’s annual copper supply, and hosting significant industry-cluster synergies to advance value in the business. In addition to the projects being acquired, the proposed transaction adds significant experience to Interra’s management team with a more global reach in the technical, legal, management and mine development areas. Director and CEO Jason Nickel states, “We are excited to combine forces with Alto Verde Copper and their team as we look to develop and expand our asset base in both British Columbia and now within the prolific Chilean copper belt. The addition of Alto Verde Copper and its team broadens the Company’s overall bench strength as we continue to advance our growth plans which include a more global platform.” Background on Alto Verde: Alto Verde Copper Inc. is a private mining company (incorporated under the Business Corporations Act (Ontario)) is focused on its portfolio of prospective exploration assets located in the Central Volcanic Zone, within the prolific Chilean Copper belt. Alto Verde’s portfolio includes three copper exploration projects: Pitbull in the Tarapaca Region and Tres Marias and Zenaida in the Antofagasta Region. Alto Verde holds a significant land package covering an area of 16,250 hectares with the projects situated proxima...