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Alpha Copper Enters into Letter of Intent to Acquire CAVU Energy Metals in All-Stock Transaction
VANCOUVER, British Columbia, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Alpha Copper Corp. (CSE: ALCU) (OTC: ALCUF) (FSE: PP0) (“Alpha”) and CAVU Energy Metals Corp. (CS
About this update from Star Copper Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Alpha Copper Corp. (CSE: ALCU) (OTC: ALCUF) (FSE: PP0) (“Alpha”) and CAVU Energy Metals Corp. (CSE: CAVU) (OTC: CAVVF) (FSE: 5EO) (“CAVU”) are pleased to announce a non-binding Letter of Intent dated August 18, 2022 (“LOI”) pursuant to which Alpha will acquire all of the issued and outstanding shares of CAVU (the “Proposed Transaction”). The Proposed Transaction is an arm’s length transaction, and provides CAVU shareholders with a premium of 60% based on each company’s respective 20-day volume-weighted average price (“VWAP”). After the Proposed Transaction, the combined entity of Alpha and CAVU will become a premier copper exploration company with an expanded portfolio of prospective base and precious metals assets in BC and the Yukon. Highlights of the Transaction and Strategic Rationale: Shareholders of the combined company will gain exposure to four prospective exploration projects in established mining jurisdictions, including: Star Project (CAVU) is multi-target copper-gold porphyry project in the Golden Triangle with a preserved supergene zone with 106.98m at 0.77% Cu (Hole S045) that is mineralized to 700m depth and open for expansion. Over 13,000m of modern drilling has been completed on the project, which is fully permitted for advanced exploration with 200 drill sites until 2026. The Star is located in the traditional territory of the Tahltan and Taku River Tlingit First Nations. Hopper Project (CAVU) is a 74 km2 multi-target porphyry copper-molybdenum project in the Yukon with significant copper-gold-silver peripheral skarn mineralization. The skarn mineralization has yielded a best intercept of 22.28m at 1.405% Cu (Hole HOP-21-DDH01), and drill testing of the porphyry target has yielded 116m at 0.209% Cu from surface (Hole HOP-21-DDH06). The project is located on the traditional territory of the Champagne Aishihik First Nations. Okeover Project (Alpha) Situated on the south coast of British Columbia 25 km north of Powell River’s deep water port facilities and 145 km northwest of Vancouver, the Okeover Property comprises 12 mineral claims totaling 4,613 hectares (11,399 acres), fully permitted for exploration planned for fall 2022. Indata Project (Alpha) Situated in north-central British Columbia on the east side of Albert Lake, a 2-hour drive from the co...