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February 1, 2022

Lion Copper and Gold to acquire two Canadian properties

Comprising 19 mineral claims, the Chaco Bear and Ashton properties cover an 80km² area in British Columbia.

Lion Copper and Gold, previously Quaterra Resources, has signed an agreement with Houston Minerals on the option to acquire a 100% interest in two properties in Canada.

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The Chaco Bear and Ashton properties comprise 19 mineral claims in total. They cover an 80km² area within some of the most prospective areas of British Columbia (BC).

Located directly east of the Golden Triangle in Northern BC, the Chaco Bear Property is situated within the Stikine Terrane and hosted in similar rock formations as the past-producing Eskay Creek volcanogenic massive sulphide (VMS) deposit.

The Ashton Property is located near Lytton, BC, and within the Spences Bridge Group.

Lion CG CEO Travis Naugle said: “We are pleased to have added these exciting properties to our exploration pipeline. We are intrigued by initial reports from the field exploration programmes and look forward to being able to provide these results in the near future.”

Lion said that it is currently processing data of the 2021 field exploration programmes on both the Chaco Bear and Ashton properties. The exploration work was carried out by Houston Minerals.

To earn a 100% interest in the two properties, Lion will issue eight million of its common shares on closing of the transaction and make annual lease payments on the properties starting this year.

According to the letter of intent signed with Houston in 2021, Lion also agreed to incur exploration expenditures of $117,837 (C$150,000) on the Chaco Bear Property and C$50,000 on the Ashton Property before the end of last year.

It also agreed to incur exploration expenditures of at least the annual assessment’s value multiplied by 1.5 for periods after 2021.

Lion is also entailed to pay $1,178,370 (C$1.5m) for the Chaco Bear Property and $785,578 (C$1m) for the Ashton Property on or before four years from the closing of the deal.

Furthermore, Houston Minerals will receive annual advance royalty payments of $196,395 (C$250,000) on the Chaco Bear Property and $117,837 (C$150,000) on the Ashton Property, in the fourth and fifth year from the closing of the transaction.

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Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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