Coast Copper Sells One of its Three Toodoggone Properties for $1.375 Million in Combined Cash and Shares
Coast Copper Sells One of its Three
Toodoggone Properties for $1.375 Million in
Combined Cash and Shares
TSX.V: COCO
VANCOUVER, BC
,
Aug. 28, 2025
/CNW/ -
Coast Copper Corp. ("Coast Copper" or the
"Company";
(TSX-V: COCO) is pleased to announce that it has entered into an asset purchase
agreement (the "
Agreement
") on
August 27, 2025
with Hi-View Resources Inc. (CSE:HVW,"
Hi-
View
"), who will acquire a 100% interest in Coast Copper's Borealis property (the "
Property
")
located in the Toodoggone District in northcentral BC (the "
Transaction
"). In consideration, Hi-View
will pay Coast Copper
$500,000
in cash, issue 3,500,000 Hi-View common shares ("
Consideration
Shares
") to Coast Copper at a deemed price of
$0.25
per Consideration Share, and grant Coast
Copper a bonus payment under certain conditions, as more fully described below. Coast Copper will
also retain a 3% net smelter return ("
NSR
") royalty subject to buyout provisions as outlined below.
COCO NR25-04 (CNW Group/Coast Copper Corp.)
Adam Travis
, CEO commented:
"With the recent AuRORA discovery made by Amarc Resources
Ltd. ("
Amarc
") and Freeport-McMoRan Mineral Properties Canada Inc, the Toodoggone District
has become one of the hottest exploration regions in
Canada
. The sale of one of our Toodoggone
properties to Hi-View validates our strategy of acquiring underappreciated exploration properties
throughout BC while we advance our core projects. Borealis is highly prospective for porphyry
copper-gold, polymetallic and skarn targets and we are extremely excited to be able to participate
in the upside of the district by becoming the largest shareholder of Hi-View as well as retaining a
NSR royalty and potentially receiving a transaction bonus. We are committed to completing the first
phase of exploration in September, which will include an airborne magnetic survey and further
compilation, such that Hi-View will be in a position to quickly move towards ground geophysical
surveys to expand and better define historical Induced Polarization geophysical anomalies prior to
drill testing."
The Property covers 9,106 hectares and is over 25 kilometers ("km") in length, located immediately
west and adjacent to Amarc's Joy property¹ and Centerra Gold Inc.'s ("
Centerra
") Kemess mine¹
(see Figure 1). For more details on this Property as well as the two others in the district that Coast
Copper continues to hold, please see the news release dated
April 8, 2025
.
Coast Copper's Chair of the Board, Dr.
Fletcher Morgan
is the CEO of TDG Gold Corp., a company
that has other interests in the Toodoggone District, and as a result recused himself from voting on
this transaction, which received unanimous support from the rest of the Coast Copper Board.
Tim Thiessen
, CFO commented: "
Selling our Red Chris Properties in 2022 provided the Company
with sufficient working capital such that we have not needed to raise any significant funds since
then, while at the same time continuing to advance our core projects and acquire new ones.
Adam
Travis
has a remarkable ability to locate, review and acquire prospective properties in strategic
locations. The Hi-View transaction, with a value of over
$1 million
, will further assist Coast Copper
in maintaining our working capital without diluting shareholders. We look forward to the future
success of Hi-View as it advances exploration at the Borealis property.
Agreement Terms
Under the terms of the Agreement, Hi-View will:
Immediately pay Coast Copper a non-refundable deposit of
$50,000
which will be spent on
exploration expenditures on the Property to keep it in good standing for a period of twelve (12)
months;
upon closing of the Transaction, make a cash payment of
$450,000
to Coast Copper;
upon closing of the Transaction, issue to Coast Copper 3,500,000 common shares of Hi-View
(the "
Consideration Shares
"). The first 1,050,000 Consideration Shares will become free-
trading four months after the completion of the Transaction, and the remaining Consideration
Shares will become free-trading in equal amounts of 350,000 Consideration Shares at the end
of each following month, such that the final 350,000 Consideration Shares will become free-
trading eleven (11) months after the completion of the Transaction.
Coast Copper will retain a 3% NSR royalty on the Property of which Hi-View will have to right to
repurchase 1% for
$2,500,000
(the "
First Buyout Payment
") and an additional 1% for
$5,000,000
(the "
Second Buyout Payment
").
Transaction Bonus
If, after the Closing Date, Hi-View completes a "
Sale Transaction
", defined as a transaction
resulting in a direct or indirect sale or transfer of property or a take-over, amalgamation, plan of
arrangement, or business combination in respect of Hi-View the result of which 51% or more of the
issued and outstanding equity or voting interests of Hi-View is acquired by a single arm's length third
party, and provided that immediately before the consummation of such Sale Transaction either (a)
Hi-View, or an affiliate thereof, continues to own an interest in the Property, or (b) Hi-View, or an
affiliate thereof, has disposed of an interest in the Property in a transaction connected or related to
the Sale Transaction, Hi-View agrees to pay to Coast Copper, within five business days following
the completion of the Sale Transaction, a one-time bonus payment (the "
Bonus Payment
") in
accordance with the following scale: If the transaction is less than
$10,000,000
the Bonus Payment
would be
$500,000
, if
$10,000,000
to
$20,000,000
the Bonus Payment would be
$1,000,000
, and if
greater than
$20,000,000
the Bonus Payment would be
$1,500,000
.
The Bonus Payment shall be paid in cash. Where the Sale Transaction is structured as an option,
joint venture or other transaction with staged or conditional payments, the Bonus Payment shall not
become payable until such consideration is actually received by Hi-View, its affiliate or its
securityholders, and further provided, for greater certainty, that the Bonus Payment shall be paid in
stages as the aggregate transaction value of such staged or conditional payments totals the above-
listed thresholds.
The completion of the Transaction is subject to standard closing conditions, including receipt of all
necessary regulatory approvals, including the approval of the Canadian Securities Exchange.
No finders' fees have been paid in this transaction.
Qualified Persons
The technical information contained in this news release has been prepared, reviewed, and
approved by
Wade Barnes
, P.Geo. (BC), Coast Copper's geological consultant and a Qualified
Person within the context of the Canadian Securities Administrators' NI 43-101; Standards of
Disclosure for Mineral Projects.
About Coast Copper Corp.
Coast Copper's primary exploration focus is the Empire Mine property, located on northern
Vancouver Island,
British Columbia
, which covers three historical open pit mines and two past-
producing underground mines that yielded iron, copper, gold, and silver. In 2023, Coast Copper
launched a generative program aimed at advancing its other properties in parallel with Empire. In
2025, Coast Copper acquired six new projects bringing its total number of 100% owned projects in
BC to thirteen, including the Empire Mine and Knob Hill NW properties located on northern
Vancouver Island, BC, and mineral properties in the Golden Triangle, Huckleberry, Anyox, Babine,
Toodoggone and Sullivan districts. Coast Copper's management team continue to actively review
precious and base metal opportunities in western
North America
.
On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis
, Chief Executive Officer and Director
Cautionary Notes in News Release and/or Maps
1
.
This news release may contain information about adjacent properties on which Coast Copper
has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent
properties are not indicative of mineral deposits on the Company's properties.
2
.
Geological Report on the Tom, Chip, and Dale Claims, 1987, Seywerd, J. Bekdache, M. BC
Assessment Report 16371. Retrieved from ARIS website.
3
.
Prospecting Report on the Firesteel Property, 1996, Javorsky, D. BC Assessment Report
25003. Retrieved from ARIS website.
4
.
Geological, Geochemical and Geophysical Report on the Cas Claims, 1992, Ditson, C. BC
Assessment Report 22721. Retrieved from ARIS website.
5
.
The QP has been unable to verify the information and that the information is not necessarily
indicative to the mineralization on the property that is the subject of the disclosure
6
.
Information regarding deposits on neighboring properties has been sourced from the individual
websites. Thesis Gold:
www.thesisgold.com
, TDG Gold:
www.tdggold.com
, Amarc Resources:
www.amarcresources.com
, and Centerra Gold:
www.centerragold.com
.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any
information
regarding the proposed Transaction, private placement, board and management
changes,
as to
our strategy, projects, plans or future financial or operating performance, constitutes
"forward-looking statements." All statements, other than statements of historical fact, are to be
considered forward-looking statements. Forward-looking statements are necessarily based on a
number of estimates and assumptions that, while considered reasonable by Coast Copper, are
inherently subject to significant business, economic, geological and competitive uncertainties and
contingencies. Although Coast Copper believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, such statements are not a guarantee of
future performance. Known and unknown factors could cause actual results to differ materially
from those projected in the forward-looking statements. Such factors include but are not limited to:
the ability of Coast Copper to complete the Transaction, fluctuations in market prices, exploration
and exploitation successes, continued availability of capital and financing, changes in national and
local government legislation, taxation, controls, regulations, expropriation or nationalization of
property and general political, economic, market or business conditions. Many of these
uncertainties and contingencies can affect our actual results and could cause actual results to
differ materially from those expressed or implied in any forward-looking statements made by, or on
behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future
performance and, therefore, readers are advised to rely on their own evaluation of such
uncertainties. All of the forward-looking statements made in this press release, or incorporated by
reference, are qualified by these cautionary statements. We do not assume any obligation to
update any forward-looking statements
.
SOURCE
Coast Copper Corp.
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For further information:
For further information, please contact: Adam Travis, CEO, Coast Copper
Corp, 409 Granville Street, Suite 904, Vancouver, BC, V6C 1T2, Canada, P: 877-578-9563, E:
CO: Coast Copper Corp.
CNW 13:15e 28-AUG-25