Alpha Copper Announces Signing of Option Agreement, Unit Financing, Investor Relations Engagement and Stock Option Grant

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[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 14, 2022 (GLOBE NEWSWIRE) -- Alpha Copper Corp. (the “Company”) (CSE: ALCU) is pleased to announce that it has entered into an option agreement (the \"Agreement\") with Northwest Copper Corp. (“Northwest”) and Eastfield Resources Corp. (“Eastfield”) whereby the Company was provided an option to acquire a 100% interest in the Okeover Copper Project, located in British Columbia (the \"Property\"). The Property (copper-molybdenum) consists of 12 contiguous legacy and cell mineral claims located in the Vancouver Mining Division of southwestern British Columbia, 25 kilometers north of Powell River and 145 kilometers northwest of Vancouver. Collectively, the claims cover an area of approximately 4,614 hectares. Pursuant to the Agreement, the Company may acquire up to a 100% interest in the Property by issuing common shares in the capital of the Company (\"Common Shares\") to Northwest and incurring certain expenditures on the Property, all as summarized below:   (a) by issuing Common Shares to Northwest, as follows:     (i) Common Shares with a value of $250,000 on the effective date of the Agreement;     (ii) additional Common Shares with a value of $500,000, on or before the date which is twelve (12) months from the effective date of the Agreement;     (iii) additional Common Shares with a value of $750,000, on or before the date which is twenty-four (24) months from the effective date of the Agreement; and     (iv) additional Common Shares such that Northwest holds 10% of the Company’s issued and outstanding common shares on the date prior to such issuance, on or before the date which is thirty-six (36) months from the effective date of the Agreement;   (b) by incurring expenditures on the Property of not less than $5,000,000, as follows:     (i) $500,000, on or before the date which is twelve (12) months from the effective date of the Agreement;     (ii) an additional $1,500,000, on or before the date which is twenty-four (24) months from the effective date of the Agreement; and     (iii) an additional $3,000,000, on or before the date which is thirty-six (36) months from the effective date of the Agreement. The Agreement also contains a provision, effective upon the Company acquiring a 100% interest in the Property, ...

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