Infinitum Copper to sell 80% of Hot Breccia

Executive Summary

• Infinitum Copper Corp. has entered into an agreement to sell an 80% interest in its Hot Breccia property in Arizona to Prismo Metals Inc.
• The transaction involves $185,000 in cash and Prismo assuming all remaining obligations under the underlying option agreement with the property owner.
• Infinitum retains a 5% interest, which is subject to assignment to Prismo under certain circumstances, aligning with the company's strategy to dispose of non-core assets.

Key Details

• Transaction Structure: Prismo Metals Inc. (TSX-V: PRIZ) acquires an 80% interest in Infinitum's remaining interest in the Hot Breccia property.
• Consideration: $185,000 cash plus assumption of all remaining obligations under the underlying option agreement with the property owner.
• Retained Interest: Infinitum retains a 5% interest in the property, which is subject to assignment to Prismo under certain circumstances.
• Use of Proceeds: General working capital purposes and investigation of new opportunities.
• Strategic Rationale: Disposal of non-core assets to focus on acquisition and exploration of mineral properties.
• Agreement Date: January 28, 2023.

Notable Quotes

• "This transaction demonstrates Infinitum's growth strategy to dispose of non-core assets and focus on acquisition and exploration of mineral properties."