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Alpha Copper (OTCPK:ALCUF) said on Friday that it agrees to acquire all of the issued and outstanding shares of CAVU Energy Metals (OTCQB:CAVVF) in an arm’s length transaction.

Alpha proposes to issue 0.7 Alpha shares for each share of CAVU for a consideration which values CAVU at ~$0.33/share, representing a premium of ~60% based on each company’s respective 20-day volume-weighted average price.

Upon completion of the deal, CAVU shareholders will hold ~30% of Alpha shares on an outstanding basis.

The combined entity will be well capitalized to increase the value of its improved project portfolio, supported by its strong executive management team and board.

Pursuant to the deal, 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.

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; Hopper Project (CAVU); Okeover Project (Alpha) and Indata Project (Alpha).

In addition, it is anticipated that CAVU will appoint a nominee to Alpha’s board and CAVU’s CEO, Dr. Jaap Verbaas, and VP Exploration, Dr. Luke Bickerton, will assume operational roles with Alpha.

Both Alpha and CAVU expect to work towards entering into a definitive agreement by September 30, 2022.

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By admin