QC Copper Receives Shareholder Approval for Cuprum Acquisition
QC Copper Receives Shareholder Approval for
Cuprum Acquisition
Toronto, Ontario--(Newsfile Corp. - December 4, 2024) - QC Copper and Gold Inc. (TSXV: QCCU)
(OTCQB: QCCUF) ("
QC Copper
" or the "
Company
") is pleased to announce that at its special
meeting of shareholders held on December 4, 2024 in Toronto, Ontario (the "
Meeting
") holders of
common shares of QC Copper: (i) approved the acquisition (the "
Acquisition
") of all of the issued and
outstanding shares of Cuprum Corp.; (ii) approved the Company's restricted share unit plan; and (iii)
approved the Company's new stock option plan. Details of each matter are included in the Corporation's
Management Information Circular dated October 25, 2024, a copy of which is available on the
Corporation's profile on SEDAR+ at
www.sedarplus.ca
.
The vote in respect of the Acquisition was carried out by ballot, with over 99% of votes cast by
disinterested shareholders being in favour of the ordinary resolution approving the Acquisition. The
resolution was approved by the majority of the votes cast by shareholders of the Company, other than
shareholders who are a non-arm's length party to QC Copper or the Acquisition.
Ticket Symbol and Name Change
The official name change to
XXIX Metal Corp.
and ticker symbol change to XXIX on the TSX Venture
Exchange will occur shortly after the closing of the Acquisition.
Assuming all other terms and conditions to the Acquisition are satisfied, it is expected that the
Acquisition will be close on or about December 5, 2024.
About XXIX Metal Corp. (previously QC Copper and Gold Inc.)
XXIX is advancing its Opemiska and Thierry Copper projects, two significant Canadian copper assets.
The Opemiska Project, Canada's highest-grade copper resource, spans 13,000 hectares in Quebec's
Chapais-Chibougamau region, with strong infrastructure and nearby access to the Horne Smelter. A
January 2024 resource update reported a 16% increase in contained Copper Equivalent (CuEq) and a
10% grade boost, including 87.3 million tonnes at 0.93% CuEq (Measured & Indicated) and additional
Out of Pit resources. The Thierry Project hosts two past-producing open pits that transitioned to
underground mining—producing 5.8Mt @ 1.13% Cu, 0.14% Ni between 1976 – 1982 by UMEX Inc.
Historically, copper concentrate was shipped to the Horne Smelter in Rouyn-Noranda, QC. Significant
infrastructure is already in place, with the Thierry property being accessible via all-season road, an
airport within 5km, a provincial power grid within 8km, and nearby rail. With these two high-potential
projects, the Company has solidified its position as a key player in the Canadian copper sector, and has
established itself as one of Eastern Canada's largest copper developer.
For further information, please contact:
Stephen Stewart, Chief Executive Officer
Phone: 416.644.1567
Email:
Forward-Looking Statements
This news release contains certain forward-looking information. All statements included herein, other
than statements of historical fact, are forward-looking information and such information involves various
risks and uncertainties. In particular, this news release contains forward-looking information in relation to:
the ability of QC Copper to satisfy the other conditions to, and to complete, the Acquisition; and the
anticipated timing of the closing of the Acquisition. There can be no assurance that such information will
prove to be accurate, and actual results and future events could differ materially from those anticipated in
such information. This forward-looking information reflects the Company's current beliefs and is based
on information currently available to the Company and on assumptions the Company believes are
reasonable. These assumptions include, but are not limited to: the ability of the parties to receive, in a
timely manner, the necessary regulatory (including stock exchange) and other third party approvals; and
the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the
Acquisition. Forward-looking information is subject to known and unknown risks, uncertainties and other
factors which may cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such forward-looking information.
Such risks and other factors may include, but are not limited to: a delay or failure to receive the
necessary regulatory (including stock exchange) and other third party approvals; and failure of the parties
to satisfy the other conditions to the closing of the Acquisition. A description of additional risk factors
which may cause actual results to differ materially from forward-looking information can be found in the
Company's disclosure documents on the SEDAR+ website at
www.sedarplus.ca
. Although the Company
has attempted to identify important factors that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors that cause results not to be as
anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-
looking information. The Company does not undertake to update any forward-looking information except
in accordance with applicable securities laws.
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
news release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/232510