Puma Exploration Announces Record Date in Connection With a Distribution of Common Shares of Canadian Copper, a Strategically-Focused Company With Copper Exploration Projects in Canada

Puma Exploration Announces Record Date in Connection With a Distribution of Common Shares of Canadian Copper, a Strategically-Focused Company With Copper Exploration Projects in Canada

 

Puma Exploration Inc. (TSXV: PUMA, OTC: PUXPF) (the " Company " or " Puma ") is pleased to announce the anticipated timing and additional details regarding a previously announced distribution of common shares of Canadian Copper Inc. (" Canadian Copper ") (formerly Melius Metals Corp.).

 

More particularly, in connection with a reduction of its stated capital in an amount of $1.5M, which is based on a deemed price of CAD$0.25 per common share of Canadian Copper and was approved by the shareholders of the Company at a special meeting held on March 9, 2022 (see News Release dated March 10, 2022), the Company will:

 

  1. distribute a substantial portion of the 6,000,000 common shares of Canadian Copper that were previously issued to the Company (the " Distribution ") to all of its shareholders other than its beneficial shareholders who are residents of the United States (the " U.S. Shareholders ") and who will be of record as of June 17, 2022 (the " Record Date "); and

  2.  
  3. pay in cash, in U.S. dollars, the amount otherwise payable to the U.S. Shareholders who will be of record as of the Record Date in connection with such reduction of stated capital (the " Cash Payment ").
  4.  

Based on the 107,587,244 common shares of Puma that are issued and outstanding as of the date hereof and on an assumption that 7,000,000 common shares of Puma will be held by U.S. Shareholders as of the Record Date, each shareholder of Puma which is not a U.S. Shareholder would be entitled to receive approximately 0.0521 common share of Canadian Copper for each common shares of Puma held as of the Record Date (which is equivalent to one (1) common share of Canadian Copper for each tranche of approximately 19.178 common shares of Puma)

 

The final exchange ratio related to the Distribution, and the exact amount of the Cash Payment that will be payable to US Shareholders, will both be determined as soon as possible after the Record Date.

 

The Distribution and Cash Payment are scheduled to occur on or about June 30, 2022.

 

For more information, please contact Marcel Robillard, President and CEO of Puma.

 

  OPTION AGREEMENT UPDATE  
All of the condition precedents under the option agreement with Canadian Copper (the " Option Agreement ") (see News Release dated July 6, 2021, November 11, 2021 and February 14, 2022) have now been satisfied. The transactions with Canadian Copper pursuant to the Option Agreement remains subject to the final approval of the TSX Venture Exchange.

 

Puma has thus determined to proceed with a reduction of it stated capital for an amount of $1.5M and to set a record date of June 17, 2022 for the Distribution and the Cash Payment.

 

Following the Distribution, Canadian Copper expects to meet the public distribution requirements of the Canadian Stock Exchange (the " CSE ") and be in a position for final approval for listing on the CSE.

 

  REGULATORIES APPROVAL STATUS UPDATE  
Canadian Copper has obtained a receipt for its final non-offering long form Prospectus dated May 24, 2022 (the " Prospectus ") from the Ontario Securities Commission. The Prospectus has been filed under Multilateral Instrument 11-102 Passport System in British Columbia, Alberta, and New Brunswick.

 

Concurrent with its Prospectus, Canadian Copper has also received conditional approval from the CSE to list its common shares on the CSE under the ticker "CCI", subject to the satisfaction of the public distribution requirements and final approval from the CSE. The listing price of CCI is expected to be set at CAD $0.25. A date for trading will be determined upon confirmation of the conditions being met.

 

  ABOUT CANADIAN COPPER INC.  

Canadian Copper is a Canadian-based mineral exploration company with a copper and base metals portfolio of historical resources and grassroots projects. The Company is focused on the prolific Bathurst Mining Camp (BMC) of New Brunswick, Canada.

 

For more information, please contact:

 

  Simon Quick,  
Director and CEO, (905) 220-6661
simon@canadiancopper.com  
ir@canadiancopper.com

 

  ABOUT Puma Exploration  

Puma Exploration is a Canadian-based mineral exploration company with precious metals projects located near the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. The Company is committed to its DEAR strategy (Development, Exploration, Acquisition and Royalties) to generate maximum value for shareholders with low share-dilution.

 

Connect with us on Facebook / Twitter / LinkedIn  

 

Visit www.explorationpuma.com for more information or contact:

 

  Marcel Robillard ,
President, (418) 750-8510;
president@explorationpuma.com

 

  Mia Boiridy ,
Head of Investor Relations and Corporate Development, (250) 575-3305; mboiridy@explorationpuma.com

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

 

  Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma to be materially different from actual future results and achievements expressed or implied by such forward-looking statements.  

 

  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, except as required by law. Puma undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.  

 

  Primary Logo 

 

News Provided by GlobeNewswire via QuoteMedia

PUMA:CA
The Conversation (0)
Puma Increases the High-Grade Gold Footprint of the Lynx Gold Zone and Extends it at Depth

Puma Increases the High-Grade Gold Footprint of the Lynx Gold Zone and Extends it at Depth

 
  • Hole WB23-139 intersected 63.05 m at 2.49 g/t gold, including two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m .
  •  
  •   2.06 g/t gold over 5.20 m was intercepted at 215 m downhole (WB23-139)- the deepest occurrence of gold to date.
  •  
  • Lower-grade gold envelopes of 0.49 g/t to 0.67 g/t gold over 22.80 to 30.95 m surround the higher-grade gold shoots.
  •  
  • The Moose area shows consistent gold mineralization at surface with hole WB23-136 grading 30.90 m of 1.10 g/t gold .
  •  
  • Drill core samples with visible gold ("VG") returned 137.0 g/t gold over 0.60 m (WB23-139), 96.0 g/t gold over 0.45 m (WB23-139), 63.6 g/t gold over 0.30 m (WB23-136), 16.85 g/t gold over 0.79 m (WB23-137).
  •  

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the results of another seven (7) holes of its 2023 drilling program at its 100%-owned Williams Brook Gold Project with high grades intercepts and long gold mineralized sections.

 

Hole WB23-139 intersected two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m (Figure 1) within a 63.05 m intercept grading 2.49 g/t gold from 89.95 to 153.00 m. The same hole intersected another gold intersection of 2.06 g/t gold   over 5.20 m at 215 m downhole depth. With these new gold intersections, the Lynx Gold Zone ("LGZ") has been extended to approximately 150 m vertical depth (Figure 2), further highlighting the potential for significant depth extension.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Samples 362 g/t Gold at Newly Optioned TIMM Gold Property

Puma Exploration Samples 362 g/t Gold at Newly Optioned TIMM Gold Property

 
  •   Strategic gold property located along national road, only 10km from St-Quentin and 25km west of Williams Brook Flagship property.
  •  
  •   High-grade gold structure, with initial surface sampling up to 362 g/t gold*.  
  •  
  • Mineralization hosted in similar quartz veins within sedimentary package.
  •  
  •   Similar depositional gold environment as Williams Brook Gold property.
  •  

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce that it has entered into a property agreement to strategically increase its substantial gold landholdings at the Williams Brook Gold Project (Figure 1). The newly optioned TIMM Gold Property, with grab samples* grading up to 267 gt gold and 362 gt gold (Table 1), marks another step towards Puma's development of a major gold camp in Northern New Brunswick.

 

Figure 1: Puma's assets and landholdings in Northern New Brunswick

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Drills Series of Stacked High-Grade Gold Quartz Veins at Williams Brook

Puma Exploration Drills Series of Stacked High-Grade Gold Quartz Veins at Williams Brook

 
  • Hole WB23-125 returned 50.85 m of 1.05 g/t gold.  
  •  
  • Gold mineralization extends over 90 m from surface in a series of stacked high-grade   quartz veins.  
  •  
  • All 11 holes intersected the targeted quartz veins, with assay results returning from anomalous gold (0.10 g/t) to 42.60 g/t.
  •  
  • Gold was intercepted at depth in areas never drilled before.
  •  
  • Results confirm the continuity of gold mineralization at the Lynx Gold Zone.
  •  
  • Assay results for 13 additional holes (2,200 m), including 47 samples containing VG are still pending  
  •  

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the results for the first eleven (11) holes of its 2023 drilling program at its 100%-owned Williams Brook Gold Project in Northern New Brunswick. These holes were first reported on August 2, 2023, and are not part of the series that returned more than 100 specks of visible gold ("VG") on initial inspection. Notwithstanding, seven (7) of the 11 holes reported today returned significant gold, with four (4) holes intersecting multiple mineralized high-grade gold quartz veins (Table 1). Hole WB23-125 intersected fifteen (15) separate quartz veins and returned 90 m of 0.70 gt gold from surface (at 2.90 m) with an impressive 50.85 m of 1.05 gt gold starting at 42 m depth, including a 4.50 m interval of 6.46 gt gold at 75 m depth.

 

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Defines Drilling Targets for Lynx Gold Zone Lateral Extension

Puma Exploration Defines Drilling Targets for Lynx Gold Zone Lateral Extension

 

Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to outline the ongoing progress of its 2023 exploration program at its 100%-owned Williams Brook Gold Project in Northern New Brunswick, Atlantic Canada. The program has successfully shown that gold mineralization extends to 150 m vertical depth at the Lynx Gold Zone ("LGZ") following Phase 1 drilling ( see August 23, 2023, News Release ). With assay results pending, the Company is now focused on demonstrating the continuity of gold mineralization along the 4 km extension of the Lynx Gold Trend ("LGT") to increase the total gold inventory of the 44,000-ha land package.

 

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Puma Exploration Welcomes Jean-David Moore to its Advisory Board

Puma Exploration Welcomes Jean-David Moore to its Advisory Board

 

Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the appointment of Mr. Jean-David Moore to the Company's Advisory Board. Mr. Moore has been a consultant and advisor to several mineral exploration and development companies for over fifteen years.

 

" Jean-David will be a valuable asset to Puma's Advisory Board, bringing his extensive industry experience and knowledge.   He has developed a strong relationship network with his significant holdings in several mineral exploration companies. As a major shareholder of Puma, he will be a trusted ally and champion as we continue to develop our Williams Brook Gold Project. This appointment reflects Puma's continued commitment to building a team focused on creating value for shareholders ", stated Marcel Robillard, President and CEO of Puma.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Gold bars with text: "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Avanti Gold Gains 158 Percent on Misisi Settlement

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category.

In other positive news for the Canadian job market, the overall employment rate rose by 0.1 percent to 60.9 percent, while the unemployment rate declined by 0.1 percent to 6.9 percent.

Keep reading...Show less
Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.

In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.

The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.

Keep reading...Show less
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less
A mining truck within the outline of Australia's map on a clear day.

Is Australia on the Brink of a New Mining Super Cycle?

Mining remains as a cornerstone of Australia’s GDP and export earnings, but current global challenges such as trade disputes and price changes may be straining its foundations.

A recent FocusEconomics report tackled Australia’s resource wealth, tracing from the gold rushes of the 1850s to the iron ore and coal booms of the 21st century.

Keep reading...Show less
Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

 
  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  
  •  
  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  
  •  
  •   Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025  
  •  

 

 Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×