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QC Copper Completes Sale of Baselode Shares for $7.85 Million
QC Copper Completes Sale of Baselode Shares for $7.85 Million Canada NewsWire ...
About this update from Xxix Metal Corp.
[{"type":"text","content":"\n \n \n \n QC Copper Completes Sale of Baselode Shares for $7.85 Million\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. 14, 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 has sold 7,142,856 common shares of Baselode Energy (\"\n \n Baselode\n \n \") to arms-length parties for gross cash proceeds of\n \n $7,857,141\n \n .\n \n \n \"This transaction is a substantive non-dilutive financing for QC Copper. This\n \n $7.85 million\n \n capital injection, when combined with our recently announced (\n \n October 6, 2021\n \n news release)\n \n $6.9M\n \n flow-through financing at\n \n $.60\n \n a share, provides QC Copper with a very strong cash position. We intend to deploy this capital to grow the Opemiska resource aggressively.\n \n \n QC Copper remains a significant shareholder and supporter of Baselode Energy. Accordingly, it was important for QC Copper to place these Baselode shares in the hands of highly-reputable institutional investors and within a private off-market transaction which is now complete,\" said QC Copper CEO\n \n Stephen Stewart\n \n .\n \n \n Baselode continues to own an additional 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 \n Early Warning Disclosure\n \n \n \n The Company filed 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. Prior to this sale, the Company beneficially owned, controlled or directed 17,857,143 shares of Baselode, presenting approximately 23.28% of the outstanding shares. Following the sale, the Company beneficially owns, control or direct 10,714,287 shares, representing approximately ...