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Fitzroy Minerals Announces Completion of Acquisition of Ptolemy Mining Limited and Concurrent Financing
(TheNewswire) VANCOUVER, BRITISH COLUMBIA, March 31, 2025 – TheNewswire - FI...
About this update from Fitzroy Minerals Inc
[{"type":"text","content":"Fitzroy Minerals Announces Completion of Acquisition of Ptolemy Mining Limited and Concurrent Financing\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n VANCOUVER, BRITISH COLUMBIA, March\n31, 2025 –\n \n\n TheNewswire\n-\n \n\n FITZROY MINERALS INC. (TSXV:\nFTZ, OTCQB: FTZFF) (“Fitzroy Minerals” or the\n\"Company\")\n \n\n is pleased to announce that\nit has completed its previously announced (see news releases dated\nOctober 30, 2024, November 8, 2024, November 28, 2024, January 30,\n2025, and February 28, 2025) acquisition (the “\n \n\n Acquisition\n \n\n ”) of\nPtolemy Mining Limited (“\n \n\n Ptolemy\n \n\n ”) pursuant to a share exchange\nagreement dated October 30, 2024 (the “\n \n\n Agreement\n \n\n ”) entered\ninto among the Company, Ptolemy, and Ptolemy’s shareholders (the\n“\n \n\n Vendors\n \n\n ”).\n \n\n\n\n Merlin Marr-Johnson, CEO and President of Fitzroy\nMinerals, commented: \"\n \n\n We\nare thrilled to announce the successful completion of this\nacquisition, which marks a significant milestone for Fitzroy Minerals.\nWith this transaction, we are well positioned to target commercially\nviable copper resources in the Chilean coastal IOCG belt.\nAdditionally, with the concurrent financing, we are fully funded for\nan 8,000-meter drill program in 2025 at the Buen Retiro Copper\nProject. We are also pleased to welcome Gilberto Schubert as our new\nChief Operating Officer—his extensive expertise in resource\ndevelopment and operational leadership will be instrumental in\nadvancing our projects and strengthening the Company. We look forward\nto an exciting year ahead as we execute on our strategy and create\nvalue for our shareholders.\n \n\n \"\n \n\n\n\n As previously announced,\n \n\n Ptolemy\nis a UK-registered private company that, through a wholly-owned\nChilean subsidiary, is the legal and beneficial holder of options to\nacquire the Manto Negro, Buen Retiro and Sierra Fritis properties\nlocated in Chile (collectively, the “\n \n\n Buen Retiro Project\n \n\n ” or the “\n \n\n Properties\n \n\n ”). The Manto Negro and Buen\nRetiro concessions are held under a single option agreement (the\n“\n \n\n Buen Retiro\nOption\n \n\n ”). The Si...