Alpha Copper Makes First Payment to Acquire Okeover Copper Project

Rhea-AI Summary

Alpha Copper Corp. (CSE: ALCU, OTC: ALCUF) has announced its first issuance under an option agreement to acquire a 100% interest in the Okeover Copper Project in British Columbia. The company issued 267,159 common shares valued at $250,000 to Northwest Copper Corp. as part of this agreement. The acquisition aligns with Alpha Copper's strategy to enhance its copper resource assets in stable jurisdictions. Upon completing all payments under the agreement, Alpha Copper will fully exercise its option to acquire the property.

Positive

• Acquisition of Okeover Copper Project increases asset portfolio.
• Investment of $250,000 signals strong commitment to copper resource development.
• Strategic acquisition may enhance market position in sustainable mining.

Negative

• None.

News Market Reaction

-4.84%

1 alert

-4.84% News Effect

On the day this news was published, ALCUF declined 4.84%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

VANCOUVER, British Columbia, March 11, 2022 (GLOBE NEWSWIRE) -- Alpha Copper Corp. (“Alpha Copper” or the “Company”) (CSE: ALCU) (OTC: ALCUF) is pleased to announce that, further to its news release dated January 14, 2022 (together, the “Prior Release”), the Company has made its first issuance under the option agreement (the “Option Agreement”) dated January 13, 2022 among Eastfield Resources Ltd., Northwest Copper Corp. (“Northwest”) and the Company, pursuant to which the Company may acquire a 100% interest (the “Acquisition”) in the Okeover Copper Project located in British Columbia (the “Property”). In accordance with the Option Agreement, the Company issued 267,159 common shares (the “Payment Shares”) to Northwest, having an aggregate deemed value of $250,000. The Payment Shares are subject to a statutory hold period of four months and one day from the date of issuance.

Upon completing all payments under the Option Agreement, the Company will be deemed to have exercised the option in full and will acquire 100% interest in the Property. Additional information with respect to the Option Agreement, Acquisition and the Property is available in the Prior Release.

About Alpha Copper Corp. (CSE: ALCU) (OTC: ALCUF)

Alpha Copper is focused on contributing to the green economy by finding and developing copper resource assets in stable jurisdictions. The Company is positioned to earn a 60% interest in the Indata copper-gold project located in north central British Columbia and a 100% interest in the Okeover copper-molybdenum project located near the coastal community of Powell River, British Columbia. For more information visit: https://alphacopper.com/.

ON BEHALF OF THE BOARD OF DIRECTORS

“Darryl Jones”

Darryl Jones
Director
604-788-9533

Additional information about the Company is available under its profile on SEDAR at www.sedar.com.

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company’s plans and outlook. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company, its securities, or its financial or operating results.

The CSE has not reviewed, approved, or disapproved the contents of this press release.

FAQ

What is the significance of Alpha Copper's acquisition of the Okeover Copper Project?

The acquisition enhances Alpha Copper's asset portfolio and aligns with its strategy to develop copper resources in stable jurisdictions.

How much did Alpha Copper issue in its first payment for the Okeover Copper Project?

Alpha Copper issued 267,159 common shares valued at $250,000 as the first payment under the option agreement.

What will happen once Alpha Copper completes all payments under the option agreement?

Once all payments are completed, Alpha Copper will acquire 100% interest in the Okeover Copper Project.

When was the option agreement for the Okeover Copper Project established?

The option agreement was established on January 13, 2022.