Canadian Copper Completes Sale of Turgeon Project

Executive Summary

• Canadian Copper Inc. completed the sale of its Turgeon and Chester projects to Raptor Resources Ltd., receiving a total consideration of $1,462,628 cash plus equity and performance‑right compensation.
• The transaction provides Canadian Copper with capital and shares to refocus on the Murray Brook Project and integrate it with the Caribou Processing Complex.
• Equity component consists of 27,267,609 common shares of Eastern Metals Limited (EMS) and 8,343,316 EMS performance rights, with the shares slated to become free‑trading on 15 Dec 2026.

Key Details

• Cash consideration: $1,462,628 received at closing.
• Equity consideration: 27,267,609 common shares of Eastern Metals Limited (EMS), an ASX‑listed company (ticker EMS) trading at AUD $0.038 per share at the time of issuance.
• Performance rights: 8,343,316 EMS performance rights granted; these expire on 15 Dec 2030.
• Projects sold: Turgeon Project (primary focus of release) and Chester Project transferred to Raptor Resources Ltd. (“Raptor”).
• Strategic rationale: Proceeds and equity will be allocated to accelerate development of the Murray Brook Project and consolidate it with the Caribou Processing Complex, enhancing Canadian Copper’s core asset base in the Bathurst Mining Camp (BMC).
• Future share status: EMS shares received become free‑trading on 15 Dec 2026.

Notable Quotes

“We are confident that New Brunswick is an excellent jurisdiction to discover, permit, build, and operate new critical mineral mines. This is excellent news to see now a growing list of companies like Raptor deploy their exploration expertise and capital in the Bathurst Camp. We will watch your progress with great interest.” – Simon Quick, CEO, Canadian Copper Inc.