CopAur Minerals To Acquire The Royal Vindicator Project
Rhea-AI Summary
CopAur Minerals (TSXV: CPAU) has entered into a purchase agreement to acquire Chester Holdings Inc. and its subsidiary, which holds rights to the Royal Vindicator mining project in Georgia, USA. The project spans 235.8 hectares and includes a former mine site with access to both bedrock and tailings materials.
The total acquisition cost is US$6.57 million, structured as US$700,000 in cash, US$2.5 million in cash/shares, and US$3.37 million in debt repayment over six years. Additional obligations include US$1 million in working capital contributions for 2025, a US$250,000 third-party reimbursement, and a US$250,000 finder's fee.
Notably, Chester Millar, a Canadian Mining Hall of Fame member and heap leach extraction pioneer, will collaborate with CopAur on this project along with the Kinsley and Troy Canyon Projects.
Positive
- Acquisition includes 235.8 hectares of mining rights with both bedrock and tailings access
- Partnership with Chester Millar, a renowned mining expert and heap leach specialist
- 20-year lease term provides long-term operational security
- Structured payment terms spread over 6 years reduces immediate financial burden
Negative
- Significant total acquisition cost of US$6.57 million for a pre-revenue project
- Additional US$1 million working capital requirement for 2025
- Acquisition contingent on raising minimum US$1.85 million by August 15, 2025
- Potential share dilution from US$2.5 million payment portion that may be paid in shares
News Market Reaction – COPAF
On the day this news was published, COPAF gained 2.31%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - July 7, 2025) - CopAur Minerals Inc. (TSXV: CPAU) ("CopAur" or the"Company") announces that it has entered into an arms-length purchase agreement (the "Purchase Agreement") to acquire all the issued and outstanding shares of Chester Holdings Inc. and its subsidiary Chester Holdings USA Inc. (the "Acquisition"). Chester Holdings USA Inc. is the holder of rights under a lease agreement entered in 2017 (the "RV Lease") that grant rights for a 20 year term to access, seek permits and to mine and process tailings and bedrock from the Royal Vindicator property located in Haralson County, Georgia, USA, consisting of 235.8 hectares of contiguous private property including the former Royal Vindicator mine site (the "RV Mining Project"). All materials including bedrock and tailings materials are available for excavation and process under the terms of the RV Lease. The parties to the Purchase Agreement are Chester Holdings Inc., a private British Columbia company controlled by Chester Millar, Chester Holdings USA Inc., a Georgia corporation, and the shareholders of Chester Holdings Inc. and Chester Holdings USA Inc.
In connection with the Acquisition, Chester Millar, a pioneer of heap leach extraction and a member of the Canadian Mining Hall of Fame, and his team of heap leach specialists have agreed to work with CopAur on this project and CopAur's Kinsley and Troy Canyon Projects.
CEO Jeremy Yaseniuk said "We are excited to work with Chester and his team on this project to shorten our timeline for development and take advantage of this elevated gold price."
Terms of the Purchase Agreement
Purchase Price Under the terms of the Purchase Agreement, CopAur has agreed to purchase all of issued and outstanding shares of Chester Holdings Inc. from the vendors in consideration of US
a. US
b. the payment at closing of US
c. the repayment by CopAur over a six year period from closing of US
Additional Payments and Financing Obligation
CopAur is required under the Purchase Agreement to make working capital contributions for the 2025 year in the aggregate amount of US
The Acquisition is subject to CopAur completing a minimum financing of US
The Acquisition is subject to acceptance of the TSX Venture Exchange, which cannot be guaranteed.
Additional Information Regarding Option Grant
The Company previously disclosed (see news release disseminated July 7, 2025) that its directors have approved a grant of 4,200,000 stock options ("Options") under its stock option plan to directors, officers, employees, and consultants of the Company. The Options have a five year term and pricing will be fixed in accordance with the TSXV policies and subject to TSXV acceptance.
About CopAur
CopAur is an exploration company focused on developing projects within the emerging, mineral-rich mining regions of Nevada. The Company is backed by a dynamic and experienced team of resource professionals advancing its projects in Nevada with the flagship project being Kinsley Mountain Gold Project, a Carlin-style project located 90 kilometres south of the Long Canyon mine (currently in production under the Newmont/Barrick joint venture, Nevada Gold Mines).
On Behalf Of The Board Of CopAur Minerals Inc.
Jeremy Yaseniuk, Chief Executive Officer
For more information, please contact:
Jeremy Yaseniuk, Chief Executive Officer & Director
Tel: +1 (604) 773-1467
Email: jeremyy@CopAur.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 news release.
Forward Looking Information
This news release contains forward-looking statements. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revised any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258024
FAQ
What is the total cost of CopAur Minerals' Royal Vindicator acquisition?
Who is Chester Millar and what is his role in CopAur's Royal Vindicator project?
What are the key terms of the Royal Vindicator lease agreement?
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