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Company to Increase Ownership of Copper North to 100%
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Copper North holds a property adjacent to Granite Creek Copper's project in the Yukon.

Granite Creek Copper Ltd. (GCX:TSX.V) announced in a news release it signed a definitive agreement to acquire all of the Copper North Mining shares that it does not already own.

With the transaction, Copper North shareholders will receive one Granite Creek common share for every 2.5 Copper North shares. This exchange ratio reflects an offer price of $0.06 for every Copper North share and thus, a 20% premium to the Aug. 28, 2020, closing price of Copper North shares on the TSX Venture Exchange.

Both copper companies' boards of directors have unanimously voted in favor of the deal.

"Since early 2019, Granite Creek has moved quickly to advance and enhance its position in the Minto Copper district. Upon completion of the Arrangement, the combined company will have consolidated 176 square kilometers of the district including the mineral resources previously confirmed on the PEA-stage Carmack copper deposit and the highly prospective Stu Project,"Tim Johnson, Granite Creek CEO, stated.

"With the second-largest land package in the district with an advanced project, Granite Creek is positioned to rapidly develop the overall potential of its holdings and is evaluating the potential for initiating a diamond drill program on high-priority targets at Stu," Johnson added.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Granite Creek Copper. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Granite Creek Copper, a company mentioned in this article.

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