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ACCESSWIRE
VANCOUVER, BC / ACCESSWIRE / August 31, 2021 / Universal Copper Ltd. ("Universal Copper" or the "Company") (TSXV:UNV)(FSE:3TA1) is pleased to announce that it has signed a purchase agreement (the "Purchase Agreement") to acquire 100% of the issued and outstanding shares of BA Copper Corporation ("BA Copper").
BA Copper holds 4,631 hectares contiguous to the southwest corner of the flagship Poplar Copper Project (the "Poplar"). These new claims increase the property size to over 61,600 hectares and now makes Poplar contiguous to the Surge Copper Corp.'s Berg copper deposit.
Terms of the Purchase AgreementPursuant to the terms of the Purchase Agreement, the total consideration payable by the Company to acquire 100% of the issued and outstanding shares of BA Copper is an aggregate of 4,500,000 common shares in the capital of the Company ("Common Shares").
All the Common Shares issued in connection with the Purchase Agreement are subject to applicable securities legislation. The Purchase Agreement is subject to all regulatory approval, including the approval of the TSX Venture Exchange (the "TSXV").
Clive Massey Universal Copper's CEO and President commented, "Combining the contiguous BA Copper properties with our own ground represents the consolidation of a district-scale land package in a favorable geological setting where the Poplar has had prior sample and significant drill results that yielded impressive copper values but lacked in adequate systematic follow up. As we have previously announced, the Company has obtained all the permits required to commence a 2021 Phase 1 drill program for the Poplar copper deposit, with approximately half of the program being directed at expanding the deposit to the west where it remains open and at depth. With the strengthening copper market brought on by the continually increasing adoption rates of Electric Vehicles, electrification, and emerging economies worldwide, this new land package is an important piece of puzzle for the Company."
About Universal CopperUniversal Copper Ltd. is a Canadian-based copper exploration company focused on the acquisition and exploration of copper properties. The Company's management team has many years of experience in exploration, finance and efficient public company management. Universal's current focus is on advancing the Poplar Copper Project, one of the most advanced pre-production copper projects in British Columbia with a historic 43-101 resource.
For additional information, please visit the Company's website at www.universalcopper.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Clive Massey"Clive H. MasseyPresident & CEO