CULICO METALS INC. COMPLETES STRATEGIC COPPER INVESTMENT INTO KHARROUBA COPPER COMPANY INC.

About this update from Culico Metals Inc.

CULICO METALS INC. COMPLETES STRATEGIC COPPER INVESTMENT INTO KHARROUBA COPPER COMPANY INC. /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } Canada NewsWire TORONTO , April 24, 2025 /CNW/ - Culico Metals Inc. (TSXV: CLCO) (" Culico ", or the " Corporation "), a TSXV Sandbox issuer, is pleased to announce an equity investment of US$3,000,000 (the " Investment ") into Kharrouba Copper Company Inc. (" KCC "), a private Canadian company with copper mining and processing operations located near Marrakesh in the Kingdom of Morocco . Culico invested US$3,000,000 in exchange for 30,000,000 common shares of KCC (the " Purchased Shares ") at a price of US$0.10 per Purchased Share, representing approximately 8% of the issued and outstanding common shares of KCC (the " KCC Shares "). The Corporation was also granted the right to appoint one member to the board of directors of KCC for so long as the Corporation owns 5% or more of the KCC Shares. The Purchased Shares are subject to a four-month plus one day hold period from the date of issuance, and the Investment is subject to the final acceptance of the TSX Venture Exchange (the " TSXV "). The Investment is an arm's length transaction. Scott Hand , KCC's controlling shareholder and Executive Chairman, commented: "I am pleased to welcome Culico as a new substantial shareholder of KCC alongside established and well-known mining investors and look forward to benefitting from Culico's insights through participation on the KCC Board. Culico shares KCC's confidence in the growth potential of KCC's producing copper mine in Morocco and enormous exploration potential for copper and cobalt across our mining concessions. I believe KCC is very well positioned to benefit from strong copper demand growth in the coming years." Paul Huet , Chairman of Culico commented: "The opportunity to make a strategic investment into a well-run tightly held producing copper operation with very compelling near-surface exploration opportunities aligns with our vision to scale Culico into a meaningful copper and base metals company. The property in Morocco spans almost 320km 2 with numerous outcropping vein swarms along surface that ar...

View stock analysis, news, and events for Culico Metals Inc.