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M&A / Property

Canadian Copper completes sale of Turgeon project

By The Northwire Desk — AI Analysis Jan 14, 2026 · 11:23 CCI · 0.58 Canadian Copper Inc
CCI · Price

Executive Summary

  • Canadian Copper Inc. has completed the sale of its Turgeon project to Raptor Resources Ltd. (formerly Eastern Metals Ltd.).
  • The transaction is part of a broader strategy to divest the Chester and Turgeon projects to focus capital and operational efforts on the Murray Brook project and its consolidation with the Caribou processing complex.
  • Total consideration received since the initial agreements on March 4, 2024, includes cash and equity in the buyer, Eastern Metals Ltd.

Key Details

  • Transaction Completion: Sale of the Turgeon project to Raptor Resources Ltd. completed.
  • Strategic Rationale: Canadian Copper is reallocating focus and capital to the Murray Brook project and intends to consolidate this asset with the Caribou processing complex.
  • Total Consideration Received (since March 4, 2024):
    • Cash: $1,462,628.
    • Equity: 27,267,609 common shares in Eastern Metals Ltd. (EMS), which is renaming to Raptor.
      • EMS trades on the Australian Stock Exchange (ASX) under ticker EMS.
      • Current share price: 3.8 Australian cents per share.
      • Lock-up/Free-trading date: December 15, 2026.
    • Performance Rights: 8,343,316 EMS performance rights.
      • Expiration date: December 15, 2030.
  • Prior Agreements: The company announced sale agreements for both the Chester and Turgeon projects on March 4, 2024.

Notable Quotes

  • Simon Quick, CEO: "We are confident that New Brunswick is as 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."
Read the original news release →

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