Business
Interra Copper Closes Business Combination with Alto Verde Copper
VANCOUVER, BC / ACCESSWIRE / April 3, 2023 / Interra Copper Corp. (CSE:IMCX) (OTCQB:IMIMF) (FRA:3MX) ("Interra" or the "Company") is pleased to announce that, f
About this update from Copper Quest Exploration Inc.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / April 3, 2023 / Interra Copper Corp. (CSE:IMCX) (OTCQB:IMIMF) (FRA:3MX) (\"Interra\" or the \"Company\") is pleased to announce that, further to its press releases dated March 10, 2023 and March 27, 2023, the Company has completed its business combination with Alto Verde Copper Inc. (\"Alto Verde\") pursuant to a business combination agreement dated March 8, 2023 between Interra, Alto Verde and 1000465623 Ontario Inc., a wholly-owned subsidiary of the Company, pursuant to which the Company has acquired all of the issued and outstanding shares in the capital of Alto Verde (the \"Business Combination\"). Following completion of the Business Combination, Chris Buncic and Rick Gittleman have been appointed to Interra's board of directors (the \"Board\"), joining the three existing Board members, Jason Nickel, David McAdam, and Scott Young. Chris Buncic has been appointed to the role of President and Chief Executive Officer of the Company and Jason Nickel has assumed the role of Chief Operating Officer of the Company. In accordance with the terms of the Business Combination, Thomas Hawkins has stepped down from the Board and remains VP, Exploration of the Company. Chris Buncic, Director and CEO of Interra, commented, \"Combining our companies is the exciting first step in executing on our plans to build a multi-jurisdictional copper-focused company and establish a significant platform for growth within the copper market. Our talented team of mining professionals, with a proven history of developing, financing and operating mines around the world over the past 20 years, is focused on elevating Interra's copper strategy, and positioning the Company to benefit from the expected drop in global copper supply in the coming decades. We look forward to advancing our projects within Chile and British Columbia, situated within two proven copper belts.\" Conversion of Subscription Receipts Pursuant to a previously announced non-brokered private placement (see the Company's news releases dated February 3, 2023 and February 10, 2023) (the \"Financing\") as a result of the completion of the Business Combination, 5,781,722 subscription receipts (\"Subscription Receipts\") of the Company have converted into 5,781,722 common shares of the Company (\"Shares\") and 2,890,861 common share purchase warrants (each, a \"Warran...