First Tidal Acquisition Corp T.AAA

Primary Symbol: V.AAA.P

First Tidal Acquisition Corp. is a Canada-based capital pool company. The Company's principal business is the identification and evaluation of a qualifying transaction and once identified or evaluated, to negotiate an acquisition or participation in a business subject to receipt of shareholder approval, if required, and acceptance by regulatory authorities. The Company has not generated revenues from operations.

TSXV:AAA.P - Post by User

First Tidal Acquisition Corp

<< Previous

Bullboard Posts

Next >>

Post by oceanelevenon Feb 15, 2014 12:33pm

395 Views

Post# 22213964

Attaching a Mining Giant Company to a project

here is an example but in another sector......this stock now trades in the 30 cent range....pumpers went hard at this and even started their own board over at agoracom....also has special groups etc.They had management also that smiled and many felt they had the best possible management ever...also insiders actually bought the heck out of this stock.....and financing of this mine doesn't even look to be a problem for Copper Fox as Teck will arrange such blah blah....30 cent trading range Ferti.....30 cents........These large mining companies eat up little companies that are in need of money to start their projects and never really a happy ending...that's why many just get bought up if their project is stellar....

Terms of the Agreement

The agreement replaces and supersedes the 2002 option and joint venture agreement between Teck and Copper Fox in connection with Schaft Creek.
Teck will hold a 75% interest and Copper Fox will hold 25% in the Schaft Creek Joint Venture.
Teck will be the operator of the Schaft Creek Joint Venture.
Teck will pay a total of $60 million in three direct cash payments to Copper Fox: $20 million upon signing the Schaft Creek Joint Venture Agreement, $20 million upon a Production Decision, and $20 million upon the completion of the mine facility.
In addition, Teck will fund 100% of costs incurred prior to a production decision up to $60 million; Copper Fox's pro rata share of any pre-production costs in excess of $60 million will be funded by Teck and the direct cash payments payable to Copper Fox will be reduced by an equivalent amount, and Teck will fund any additional costs incurred prior to a production decision, if required, by way of loan to Copper Fox to the extent of its pro rata share, without dilution to Copper Fox's 25% joint venture interest.
On signing Teck will reimburse $3.93 million for Schaft Creek mineral tenure acquisition costs and costs related to Stewart Bulk Terminal land reservation agreement incurred by Copper Fox.
Management of the Joint Venture will be made up of two representatives from Teck and Copper Fox with voting proportional to equity interests.
Teck has agreed to use all reasonable commercial efforts to arrange project equity and debt financing for project capital costs of constructing a mining operation upon a production decision being made; Teck has agreed to fund Copper Fox's pro rata share of project capital costs by way of loan, if requested by Copper Fox, without dilution to Copper Fox's 25% joint venture interest.