Business
Infinitum Signs Definitive Agreement to Sell Its Adelita Interest
Vancouver, British Columbia--(Newsfile Corp. - June 20, 2025) -  Infinitum Copper Corp. (TSX...
About this update from Infinitum Copper Corp
[{"type":"text","content":"Infinitum Signs Definitive Agreement to Sell Its Adelita InterestVancouver, British Columbia--(Newsfile Corp. - June 20, 2025) -  Infinitum Copper Corp. (TSXV: INFI) (\"Infinitum\" or the \"Company\") is pleased to announce it has entered into a definitive share purchase agreement dated June 13, 2025 with Kenadyr Metals Corp. (TSXV: KEN.H) (OTC: KNDYF) (FSE: KM0) (\"Kenadyr\") to sell 100% of Exploraciones Margarita S.A. de C.V., Infinitum's Mexican subsidiary that holds an 80% interest in the Cerro Grande copper-gold-silver property, located in Sonora, Mexico.Transaction TermsUnder the terms of the agreement, Kenadyr will acquire 100% of the shares of Exploraciones Margarita S.A. de C.V. from Infinitum, on an \"as is, where is\" basis, in exchange for:CAD $100,000 in cash (of which a deposit of $25,000 has been paid), and 1,842,719 Kenadyr common shares, which are subject to voluntary resale restrictions with releases occurring over a period of 18-months.In addition, for a period of 12 months following the closing of the sale, upon Kenadyr closing any equity financing up to and totaling $3.5 million, Kenadyr will issue to Infinitum as a post-closing payment, and for no additional consideration, such number of additional shares that will result in Infinitum continuing to hold 9.0% of the outstanding shares of Kenadyr, to a maximum of 2,588,000 additional shares.Kenadyr is arm's length to the Company. The transaction is subject to customary conditions, including approval of the TSX Venture Exchange and the approval of the Company's shareholders. As the proposed sale would represent the disposition of the majority of the Company's assets, it may be downgraded to the NEX on closing of the disposition if as a result the Company fails to meet the TSXV Continued Listing Requirements. Corporate UpdateThe Company today has voluntarily terminated its listing services on the OTCQB Venture Market (\"OTCQB\") trading platform. The Company's common shares remain listed for trading on the TSX Venture Exchange. The Board of Directors of the Company have made this decision after considering a number of factors including the associated listing fee expenses and administrative burden required to comply with ongoing OTCQB listing requirements. The Company intends to file further updates to the market once its delisting from the OTCQB platform ...