Coast Copper to sell Borealis to Hi-View

Executive Summary

• Coast Copper Corp. entered into an Asset Purchase Agreement to sell its Borealis property in the Toodoggone district for a total consideration of $1.375 million (cash and Hi‑View common shares).
• The transaction includes a $500,000 cash payment at closing, issuance of 3.5 million Hi‑View shares at an implied $0.25 per share, a $50,000 non‑refundable deposit for exploration, and a 3 % NSR royalty retained by Coast Copper (with buyout options).
• A contingent bonus up to $1.5 million may be payable to Coast Copper if Hi‑View is later sold in a qualifying transaction.

Key Details

• Purchase Price: $500,000 cash + 3.5 M Hi‑View common shares @ $0.25/share = $375,000 value of shares; total consideration $1.375 M (cash + equity).
• Deposit: Immediate non‑refundable $50,000 deposit to be spent on exploration for the next 12 months.
• Closing Payments: Additional cash payment of $450,000 due at closing.
• Share Issuance & Trading Schedule:
• 1.05 M shares become free‑trading four months after transaction completion.
• Remaining 2.45 M shares released in equal monthly tranches of 350,000 shares over the next 11 months.
• Royalty Retention: Coast Copper retains a 3 % net smelter return (NSR) royalty on Borealis. Hi‑View may repurchase:
• 1 % for $2.5 M
• Additional 1 % for $5 M
• Transaction Bonus (Contingent): If Hi‑View is later sold and ≥51 % of its equity is acquired by a third party, Hi‑View will pay Coast Copper within five business days:
• $500,000 if sale < $10 M
• $1.0 M if sale $10–$20 M
• $1.5 M if sale > $20 M
• Closing Conditions: Standard conditions including receipt of all regulatory approvals (e.g., Canadian Securities Exchange). No finders’ fees were paid.
• Property Description: Borealis covers 9,106 ha, ~25 km in length, located west of Amarc’s Joy property and adjacent to Centerra Gold’s Kemess mine; prospective for porphyry Cu‑Au, polymetallic and skarn targets.

Notable Quotes

“The sale of one of our Toodoggone properties to Hi‑View validates our strategy… we are extremely excited to be able to participate in the upside of the district by becoming the largest shareholder of Hi‑View…” – Adam Travis, CEO

“The Hi‑View transaction, with a value of over $1 million, will further assist Coast Copper in maintaining our working capital without diluting shareholders.” – Tim Thiessen, CFO