Interra Copper Announces Securities for Debt Settlement

Interra Copper Corp. (CSE: IMCX) (FSE: 3MX) ("Interra" or the "Company") announces that it has entered into a securities for debt settlement agreement dated January 15, 2024 (the "Agreement") with a professional advisor of the Company.

Pursuant to the Agreement, the Company has agreed to settle debt in the amount of $34,723.05 through the issuance of 138,892 units (each, a "Unit") at a deemed price of $0.25 per Unit, whereby each Unit shall be comprised of one (1) common share in the capital of the Company (each a "Share") and one half (1/2) of one (1) Share purchase warrant (each whole, being a "Warrant"). Each Warrant will be convertible into an additional Share (a "Warrant Share") at an exercise price of $0.35 per Warrant Share and will expire on the date that is three (3) years following the date of issuance (the "Expiry Date"). The Expiry Date shall be subject to acceleration where the volume-weighted average trading price of the Company's common shares on the Canadian Securities Exchange is equal to or greater than $0.45 for a continuous 30-day period at any time after that date which is 4 months following their date of issue in which case the Expiry Date of the Warrants shall automatically accelerate and the Warrants will expire on that date which is 30 days after the date on which notice of such acceleration event is provided to the holder.

The Agreement and the issuance of the securities thereunder are subject to the approval of the CSE. The securities will be subject to a hold period of four months and one day pursuant to CSE policies and applicable securities laws.

On behalf of the Board of Interra Copper Corp.

Rick Gittleman
Interim CEO & Chairman

For further information contact:
Katherine Pryde
Investor Relations
+1 (778) 949-1829
investors@interracoppercorp.com

Forward Looking Information

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the debt settlement transaction and the receipt of all necessary regulatory and other approvals, are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Interra, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain the necessary approvals in connection with the Agreement and the transactions contemplated thereby, the ability to complete exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Interra does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194531

News Provided by Newsfile via QuoteMedia

imcx:cc cse:imcx base metals investing Base Metals Investing

IMCX:CC

Interra Provides Rip Copper Molybdenum Project Exploration Update

Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FSE: 3MX) ("Interra" or the "Company") is pleased to provide detail of the first phase exploration program at the Rip Copper Project (the "Project" or "Rip") in the Stikine region of British Columbia. The Rip Project is situated approximately 33 km northeast of Imperial Metals' past producing Huckleberry copper-molybdenum ("Cu-Mo") mine (see Figure 1), which is presently on care and maintenance. Imperial Metals Corporation is exploring Huckleberry and its surrounding claims for additional Cu-Mo resources.

In late 2023, the Company first announced its option agreement with ArcWest Exploration Inc. ("ArcWest") to acquire an 80% interest in ArcWest's Rip Cu-Mo project. Interra can earn the first tier of its interest in the project by completing staged exploration work totalling C$2.0 million and direct payment of C$100,000 and annual share payments over 4 years until end of 2027. Interra is currently funded for, and anticipates, it will meet and likely exceed its 2024 and 2025 obligations for the earn-in of C$300,000 and C$500,000 in expenditures respectively with the budget outlined in this 2 stage program. The initial program is staged into 2 work phases: 1) A geophysical program to define drill targets, commencing in late April and; 2) A diamond drilling program tentatively scheduled for Q3/Q4 of 2024.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Interra Copper Announces Distribution of Securities for Debt Settlement

Interra Copper Corp. (CSE: IMCX) (FSE: 3MX) ("Interra" or the "Company") announces that, further to its news release of December 19, 2023, the Company has distributed an aggregate of 282,148 units (each, a "Unit") at a deemed price of $0.25 per Unit in connection with a securities for debt settlement agreement dated December 18, 2023 (the "Agreement") with a consultant of the Company, pursuant to which the Company has agreed to settle debt in the amount of $70,537.00.

Each Unit is comprised of one (1) common share in the capital of the Company (each a "Share") and one half (1/2) of one (1) Share purchase warrant (each whole, being a "Warrant"). Each Warrant is convertible into an additional Share (a "Warrant Share") at an exercise price of $0.35 per Warrant Share and will expire on the date that is three (3) years following the date of issuance (the "Expiry Date"). The Expiry Date is subject to acceleration where the volume-weighted average trading price of the Company's common shares on the CSE is equal to or greater than $0.45 for a continuous 30-day period at any time after that date which is four (4) months following the date of issuance, in which case the Expiry Date of the Warrants shall automatically accelerate and the Warrants will expire on that date which is 30 days after the date on which notice of such acceleration event is provided to the holder.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Interra Copper Closes Final Round of Flow-Through Private Placement Financing

Interra Copper Corp. (CSE: IMCX) (FSE: 3MX) ("Interra" or the "Company") announces that, further to its news releases of December 7th, 15th, and 19th, 2023, it has closed the final round of its flow-through private placement financing issuing an aggregate of 880,000 flow-through shares of the Company (the "FT Shares", and each, an "FT Share") at a price of $0.29 per FT Share for aggregate gross proceeds of $255,200 (the "Final Round"). This Final Round was part of a larger offering, of which the first round closed December 15, 2023, at which time an aggregate of 3,041,397 flow-through shares of the Company were issued generating proceeds of $882,005 (the "First Round"). Together, the First Round and Final Round issuances have raised an aggregate of $1,137,205 in gross proceeds (the "Proceeds").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Bold Ventures Announces PDAC 2025 Booth and Plans for Winter Exploration

Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to announce that the Company will have a booth at the Prospectors and Developers Association of Canada (PDAC) convention from March 2nd to 5th (booth #2610). The Company's President and COO, Bruce MacLachlan, the Company's V.P. Exploration, Coleman Robertson, and the Company's CEO, David Graham, will be present for the duration of the conference, as well as the preceding Metals Investor Forum from February 28th to March 1st.

The Bold exhibition booth will showcase various samples, maps and photographs from the Company's Burchell Gold and Copper Project, the Company's Traxxin Gold Project, and the Company's Wilcorp Gold Project, all located between Thunder Bay and Atikokan, Ontario. Of particular interest is the recent high-grade gold discovery at the Burchell Project. The 111 Zone discovery yielded impressive gold values ranging from 10 ppb Au up to 68,000 ppb Au (68 g/t Au or 2.2 oz./t Au). See Bold press releases dated December 12, 2024and January 9, 2025. The exhibition booth will also showcase more recently obtained results from the three properties, see Bold press release dated January 17, 2025.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Red Metal Resources Planning 2025 Work Program on 100% Owned Hydrogen-Prospective Mineral Claim Package Spanning Quebec and Ontario

Red Metal Resources Ltd. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) ("Red Metal" or the "Company") is pleased to announce that it is planning a Phase 1 work program and data compilation for its recently acquired, 100% owned, portfolio of highly prospective mineral claims and mineral claim applications, consisting of seven separate claim packages, covering 172 mineral claims and totaling over 4,546 hectares.

These highly prospective claim packages are located to the North, Northeast and the Southwest of Quebec Innovative Materials Corp.'s ("QIMC") recent hydrogen-in-soil discovery in the Saint-Bruno-de-Guigues area, of over 1,000 ppm, announced on September 4^th 2024, as well as covering similar geology to the west located in the Larder Lake Mining District of Ontario, along the Quebec border near the town of Ville-Marie, QC.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

StrategX Discovers High-Grade Copper at East Arm, Great Slave Lake, Northwest Territories, Canada

StrategX Elements Corp. (CSE: STGX) ("StrategX" or the "Company") is pleased to announce the discovery of high-grade copper mineralization at its East Arm Copper Project ("East Arm"). Recent surface sampling has returned copper values ranging from 1% to 10%, underscoring significant exploration potential within a 2-km corridor of sedimentary-hosted mineralization accessible from the Great Slave Lake. Encouraged by these results, the Company has expanded its property position by staking an additional 6,425 hectares in the area.

StrategX's copper targets at East Arm are situated along a major continental-scale craton margin, hosted in Paleoproterozoic sediments, and occur on trend with the Pine Point Zinc mine, currently being developed by Osisko Metals. For further details, refer to Figures 1-4.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

World Copper Enters into Letter Agreement to Sell Zonia Project

World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company") announces that the Company has entered into a binding letter agreement made as of February 12, 2025 (the "Letter Agreement") to sell its interest in the Zonia copper project located in the Walnut Grove Mining District, Yavapai County, Arizona ("Zonia" or the "Project") to an arm's length third party (the "Purchaser") in consideration for CAD $26.0 million cash (the "Purchase Price"), payable in tranches (the "Proposed Transaction").

The Letter Agreement provides for a 90-day due diligence period and sets forth the proposed commercial terms for the Proposed Transaction. It is currently expected that the Proposed Transaction will be effected by way of a share purchase and sale transaction pursuant to which the Purchaser would acquire all of the issued and outstanding shares of the Company's Arizona subsidiary, Cardero Copper (USA) Ltd. ("Subco"). Following completion of due diligence to the satisfaction of the Purchaser, the parties will have 15 days to enter into a definitive agreement. The payment of the Purchase Price shall be payable as to CAD $8.0 million to World Copper at closing of the Proposed Transaction (the "Closing"), an additional instalment of CAD $8.0 million on or before the 15-month anniversary of Closing, and a final instalment of CAD $10.0 million on or before the 30-month anniversary of Closing, subject to the Purchaser's right to accelerate the additional instalments. Until the payment in full of the Purchase Price, it is proposed that the shares of Subco will be held in escrow, and the Purchaser will grant World Copper a security interest over such shares and the Project. If the Purchaser fails to make any instalment payment for the Purchase Price, the shares of Subco will be returned to World Copper and the Purchaser would retain no interest in the Subco shares or the Project.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Table 1 - StrategX Assay Results (2024)
Northing	Easting	Silver (Ag) ppm	Copper (Cu) ppm	Copper (Cu) %
488362	6903463	24.9	>10000	1.28
488374	6903459	54.5	>10000	5.11
488415	6903479	7.0	>10000	6.05
488440	6903303	0.7	336	0.03
488395	6903282	1.9	267	0.03
488384	6903272	1.4	661	0.06
488376	6903258	2.8	1320	0.13
488432	6903261	1.1	52.5	0.01
488444	6903278	0.6	249	0.03
488483	6903343	10.0	>10000	2.65
488559	6903391	42.6	>10000	10.10
488585	6903403	33.2	>10000	2.91

"Bruce A MacLachlan"	"David B Graham"
Bruce MacLachlan	David Graham
President and COO	CEO

Direct line: (705) 266-0847
Email: bruce@boldventuresinc.com

Interra Copper Announces Securities for Debt Settlement

Latest News

Latest Press Releases

Related News

TOP STOCKS