Granite Creek Copper Ltd. has entered into an agreement to acquire more than 26.1 million shares of Copper North Mining Corp., representing approximately 30% of the outstanding Copper North shares, in consideration for more than 10.5 million shares of Granite Creek.
Tim Johnson, Granite Creek CEO, said, “We believe this acquisition will be accretive to Granite Creek shareholders as the adjoining claim blocks of both companies share many synergies including common geology, infrastructure and expanded exploration potential. We look forward to delivering more information about this acquisition and the on-going results from Granite Creek’s recent exploration programs in the Minto Copper District, over the ensuing weeks and months.”
The acquisition is subject to customary closing conditions.
Granite Creek is a Canadian exploration company focused on the 100%-
owned Stu Copper-Gold project located in the Yukon’s Minto Copper District. This 115-square-kilometer property is on trend with Pembridge Resources’ high-grade Minto Copper-Gold Mine to the north and Copper North’s advanced-stage Carmacks Copper-Gold-Silver project to the south. The Stu project has excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km.