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QC Copper Announces Sale of Baselode Shares
QC Copper Announces Sale of Baselode Shares Canada NewsWire TORONTO ...
About this update from Xxix Metal Corp.
[{"type":"text","content":"\n \n \n \n QC Copper Announces Sale of Baselode Shares\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Oct. 6, 2021\n \n /CNW/ - QC Copper and Gold Inc. (\"\n \n QC Copper\n \n \" or the \"\n \n Company\n \n \") (TSXV: QCCU) is pleased to announce it intends to enter into agreements to sell 7,142,856 common shares of Baselode Energy (\"\n \n Baselode\n \n \") to arms-length parties. On completion of the sale, QC Copper will retain 10,714,287 shares in Baselode which the Company will continue to hold for investment purposes. The Company has no intention of selling its remaining investment in Baselode at this time.\n \n \n \"Based on the recent success of Baselode Energy and strong investor demand for its shares, we received numerous offers to privately purchase our Baselode position. We remain significant investors in Baselode, and are focused on ensuring that its shares are placed in the right hands. We see this transaction as an very attractive opportunity to place some of our Baselode shares in the hands of  highly-reputable, institutional investors while adding a substantive non-dilutive cash injection into QC Copper. This significant and ongoing investment reflects our tremendous support for CEO,\n \n James Sykes\n \n and the rapidly evolving  Baselode story,\" said QC Copper CEO\n \n Stephen Stewart\n \n commented.\n \n \n The proceeds of the sale will be primarily used to fund exploration activities at QC Copper's Opemiska project and general working capital purposes.\n \n \n \n Early Warning Disclosure\n \n \n \n The Company will be filing a Form 45-102F1 –\n \n Notice of Intention to Distribute Securities under Section 2.8 of NI 45-102 – Resale of Securities\n \n (the \"\n \n Sales Notice\n \n \") and an early warning report (the \"\n \n Early Warning Report\n \n \") regarding the sale of the shares on SEDAR. As of the date of this news release, prior to the sale, the Company beneficially owned, controlled or directed 17,857,143 shares of Baselode, presenting approximately 2...