Allied Copper Announces Completion of Reverse Takeover Transaction

About this update from Libertystream Infrastructure Partners Inc.

[{"type":"text","content":"Allied Copper Announces Completion of Reverse Takeover TransactionVancouver, British Columbia--(Newsfile Corp. - October 27, 2021) - Allied Copper Corp. (TSXV: CPR) (OTCQB: CPRRF) (\"Allied Copper\" or the \"Company\") is pleased to announce the completion of its previously announced non-arm's length transaction (the \"Transaction\") pursuant to the policies of the TSX Venture Exchange (\"TSXV\"). In connection with the completion of the Transaction, the Company filed a filing statement dated October 18, 2021 (the \"Filing Statement\"). The Filing Statement has been filed on SEDAR under the Company's issuer profile at www.sedar.com. Readers are encouraged to review the Filing Statement for full details on the Transaction.The Transaction The Transaction was completed in pursuant to a definitive agreement dated May 5, 2021 (the \"Definitive Agreement\") with 1269280 B.C. Ltd. (\"BCCo\"), a corporation incorporated in the Province of British Columbia, and 1303288 B.C. Ltd., a wholly owned subsidiary of the Company (\"Subco\") incorporated in the Province of British Columbia. The Company has acquired all of the issued and outstanding common shares of BCCo pursuant to a three-cornered amalgamation in accordance with Section 269 of the Business Corporations Act (British Columbia). BCCo is a private company formed under the laws of British Columbia on October 8, 2020, whose sole asset is an option agreement with Goodsprings Exploration LLC (\"Goodsprings\"), Robert Cole (\"R. Cole\") and Lori Cole (\"L. Cole\" together with R. Cole and Goodsprings, the \"Optionors') (the \"Goodsprings Option Agreement\"), whereby BCCo has the option (the \"Option\") to earn a 100% interest in the Silver King project in the State of Nevada (the \"Silver King Property\"). Disinterested shareholders of the Company approved the Transaction by way of written consent on October 19, 2021. Under the Definitive Agreement the Company issued an aggregate of 6,691,000 common shares in the capital of the Company (the \"Consideration Shares\") at a deemed price of $0.30 per Consideration Share to the shareholders of BCCo. The Consideration Shares are subject to contractual resale restrictions providing that the Consideration Shares may not be sold, transferred, optioned, encumbered, pledged or hypothecated in any way, except as follows: (i) as to 25% on the date whi...

More updates from Libertystream Infrastructure Partners Inc.