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Kodiak Copper and Teck Enter into Non-Binding Letter of Intent to Create New US-Focused Copper Exploration Company
Vancouver, British Columbia--(Newsfile Corp. - April 29, 2026) - Kodiak Copper Corp. (TSXV: KDK) (OTCQX: KDKCF) (FSE: 5DD1) (the "Company" or "Kodiak") announces that it has entered into a non-binding letter of intent (the "LOI") with Teck Resources Limited (collectively with its subsidiary Teck American Incorporated, "Teck") and Kay Copper Corp. ("Kay Copper", formerly Railtown II Capital Corporation), currently an unlisted reporting issuer, on February 17, 2026 which outlines the principal...
About this update from Teck Resources Limited Class A
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - April 29, 2026) - Kodiak Copper Corp. (TSXV: KDK) (OTCQX: KDKCF) (FSE: 5DD1) (the "Company" or "Kodiak") announces that it has entered into a non-binding letter of intent (the "LOI") with Teck Resources Limited (collectively with its subsidiary Teck American Incorporated, "Teck") and Kay Copper Corp. ("Kay Copper", formerly Railtown II Capital Corporation), currently an unlisted reporting issuer, on February 17, 2026 which outlines the principal terms of a proposed transaction to be completed by way of a three-cornered amalgamation (the "Transaction").","length":665,"tagName":"p"},{"type":"text","content":"Under the Transaction, Kodiak would vend its 100% owned Mohave project ("Mohave") and Teck would vend its 100% owned Copper Hill project ("Copper Hill"), both located in Arizona, into a subsidiary of Kay Copper to create a new US-focused copper exploration company that would apply to list its shares on the TSX Venture Exchange ("TSXV"). The Transaction is subject to ongoing negotiations, the execution of definitive agreements, due diligence, consents and regulatory approval, approval of the TSXV and the completion of the NewCo Initial Financing (as defined below) and NewCo Concurrent Financing (as defined below). There is no guarantee that the Transaction will be completed.","length":712,"tagName":"p"},{"type":"text","content":"Strategic Rationale ","length":19,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Transaction is anticipated to generate synergies and unlock value that is not being recognized within current corporate structures","length":130,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Conducive environment for domestic critical mineral projects in the United States","length":81,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Premier jurisdiction – Arizona is a prolific mining district with existing infrastructure that produced 70% of US copper production in 2025","length":139,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Quality assets – two 100% owned exploration-stage copper porphyry projects","length":74,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Near-term exploration upside – multi...