Business
Western Troy Enters into Option Agreement
Toronto, Ontario--(Newsfile Corp. - August 23, 2021) - Western Troy Capital Resources Inc. (TS...
About this update from Global Copper Corp
[{"type":"text","content":"Western Troy Enters into Option AgreementToronto, Ontario--(Newsfile Corp. - August 23, 2021) - Western Troy Capital Resources Inc. (TSXV: WRY.H) (the \"Company\") is pleased to announce that it has entered into an option agreement (the \"Agreement\") with US Copper Corp. (\"US Copper\") to acquire a 100% undivided interest in 14 mineral claims covering approximately 227 hectares located in Whiteside Township in the District of Cochrane, Timmons, Ontario (the \"Property\"). Pursuant to the terms of the Agreement, the total consideration payable by the Company to US Copper is an aggregate of 2,500,000 common shares in the capital of the Company (\"Common Shares\") and exploration expenditures, payable as follows: upon signing the Agreement, the Company issued 200,000 Common Shares;on or before February 1, 2023, the Company shall issue 800,000 Common Shares following the completion of not less than three diamond drilling holes of an aggregate of at least 450 feet on the Property and completing a technical report, prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects; andon or before December 1, 2023, the Company shall issue 1,500,000 Common Shares. All of the Common Shares issued in connection with the Agreement are subject to a four-month statutory hold period from the date of issue in accordance with applicable securities legislation. The Agreement remains subject to the approval of the TSX Venture Exchange.In addition, the Company announces that it has granted an aggregate of 1,050,000 options to purchase common shares of the Company exercisable at a price of $0.16 per common share for a period of three (3) years to certain directors, officers and consultants of the Company. The common shares issuable upon exercise of the options are subject to a four month hold period from the original date of grant.About Western TroyWestern Troy has been engaged in mineral exploration and mine development, as well as reviewing potential alternatives to enhance shareholder value.Contact Information:Western Troy Capital ResourcesStephen Dunn, CEOTel: 416-361-2827Email: [email protected] AND FORWARD-LOOKING STATEMENTS:Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of thi...