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Alta Copper Corp T.ATCU

Alternate Symbol(s):  ATCUF

Alta Copper Corp. is a Canada-based copper developer, which is engaged in the acquisition, exploration and development of mineral rights interests. The Company is focused on the development of its 100% owned Canariaco advanced staged copper project. The Canariaco Copper Project is an advanced stage porphyry copper exploration and development project located in Northern Peru. Canariaco comprises about 97 square kilometers of highly prospective land located about 102 kilometers (km) northeast of the City of Chiclayo, Peru, which includes the advanced stage Canariaco Norte deposit, Canariaco Sur deposit and Quebrada Verde prospect, all within a four km NE-SW trend in northern Peru’s mining district. The Company also holds other earlier stage base metal properties located in Peru and Canada. Its other projects include Don Gregorio property, Arikepay Copper-Gold Porphyry Discovery, and Canyon Creek property. Don Gregorio property is a copper-gold porphyry target located in northern Peru.


TSX:ATCU - Post by User

Post by bigmoney14on Oct 17, 2023 3:54pm
228 Views
Post# 35687808

FORTESCUE METALS CONTINUES TO INVEST IN ALTA COPPER ATCU

FORTESCUE METALS CONTINUES TO INVEST IN ALTA COPPER ATCUMore good news for Alta Copper from their largest shareholder Fortescue Metals and at a 45% premium to market!  It's a sure endorsement of what is going to happen in the future.

"Nascent Copper Exploration Pty Ltd" 

"Fortescue Copper Ltd"


A future name change is a natural evolution of Alta Copper, they have too much economical copper to ignore and will get even bigger.




Alta Copper Announces Fortescue Metals Exercises Pre-Emptive Right

2023-10-17 13:36 ET - News Release

VANCOUVER, British Columbia, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Alta Copper Corp. (TSX: ATCU; OTCQX: ATCUF; BVL: ATCU) (“Alta Copper” or the “Company”) is pleased to announce that Fortescue Metals Group Ltd. (“Fortescue Metals”), has exercised their pre-emptive right to maintain their shareholder’s interest.

As previously announced by the Company on October 11, 2023, the Company arranged a Private Placement to raise gross proceeds of $766,645 through the issuance of 1,533,290 Common Shares at a premium to market purchase price of $0.50 per Common Share.

As a result of the private placement Nascent Exploration Pty Ltd., a wholly owned subsidiary of Fortescue Metals has exercised their pre-emptive right to subscribe for 535,000 Common Shares at a purchase price of $0.50 per Common Share for a total purchase price of $267,500 to maintain their shareholder’s interest at 25.4%.

A total of 2,068,290 Common Shares will be issued for gross proceeds of $1,034,145 with closing of the private placement subject to final approval of the Toronto Stock Exchange which is expected to occur on or before November 23, 2023. The common shares will be subject to a mandatory hold period ending four months and one day after issuance, in accordance with applicable securities law. There will be no warrants included in this private placement.

Joanne Freeze, CEO & President of Alta Copper commented: “This private placement represents a significant premium of plus 45% to the market close on October 16, 2023, while continuing to demonstrate third-party endorsement of the investment merits of Alta Copper. Furthermore, we welcome the ongoing and continued support of our largest shareholder Fortescue Metals.

The Company will use the proceeds of the Private Placement for working capital, ongoing community initiatives as well as engineering work related to the Optimized Preliminary Economic Assessment currently underway.

About Alta Copper
Alta Copper is focused on the development of its 100% owned Caariaco advanced staged copper project. Caariaco comprises 97 square km of highly prospective land located 150 km northeast of the City of Chiclayo, Peru, which include the Caariaco Norte deposit, Caariaco Sur deposit and Quebrada Verde prospect, all within a 4 km NE-SW trend in northern Peru’s prolific mining district. Caariaco is one of the largest copper deposits in the Americas not held by a major.
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