Allied Copper Enters into Definitive Agreement to Acquire 1269280 B.C. Ltd and Announces Leadership Changes

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[{"type":"text","content":"Allied Copper Enters into Definitive Agreement to Acquire 1269280 B.C. Ltd and Announces Leadership ChangesVancouver, British Columbia--(Newsfile Corp. - May 26, 2021) - Allied Copper Corp. (TSXV: CPR) (OTC: CPRRF) (\"Allied Copper\" or the \"Company\") is pleased to announce that it has entered into 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, whereby the Company will acquire all of the issued and outstanding shares of BCCo pursuant to a three-cornered amalgamation in accordance with Section 269 of the Business Corporations Act (British Columbia) (the \"Proposed Transaction\"). 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\").The Proposed Transaction is a Reverse Takeover (as that term is defined in the policies of the TSX Venture Exchange (the \"TSXV\"). The Proposed Transaction will not result in a change of business of the Company and following the completion of the Proposed Transaction the Company will be a junior mining issuer focused on the exploration and development of the Silver King Property.The Silver King PropertyThe Silver King Property is a porphyry copper-gold exploration target in Lincoln county, Nevada. The Silver King Property, comprised of 316 BLM lode mining claims (2560Ha) sits on a highly prospective area, along a geologic trend which hosts multiple producing mines, with transportation and power infrastructure readily available. The Silver King mine was discovered in the 1870's, with reported shipments of high-grade lead-zinc-silver ore to Salt Lake City. In 1919 construction of a 50 ton per day smelter was started on the property, but never completed, with additional, limited, production in 1939. There is no record of additional work ...

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