{"id":1204977,"date":"2020-09-01T12:14:51","date_gmt":"2020-09-01T17:14:51","guid":{"rendered":"https:\/\/resourceworld.com\/?p=59579"},"modified":"2020-09-01T12:14:51","modified_gmt":"2020-09-01T17:14:51","slug":"granite-creek-snaps-up-copper-north-mining","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1204977","title":{"rendered":"Granite Creek snaps up Copper North Mining"},"content":{"rendered":"

Granite Creek Copper Ltd.<\/strong>\u00a0[GCX<\/a>-TSXV] reached an agreement to acquire all the outstanding shares of Copper North Mining Corp.<\/strong> [COLI<\/a>-TSXV] it doesn\u2019t already own in a move that will create a copper-focused exploration and development company in the Yukon.<\/p>\n

The announcement came on a day when the price of copper for delivery in December trading on the Comex market in New York was priced at US$3.06\/lb, the highest level since June, 2018. The price marks an increase of 58% from US$2.10\/lb on March 23, 2020.<\/p>\n

Granite Creek has been focused on the 100%-owned Stu copper-gold-silver project, which covers 111 km2<\/sup> adjacent to Pembridge Resources Plc<\/strong>\u2019s\u00a0[PERE<\/a>-LSE] high-grade Minto copper gold-silver mine and Copper North\u2019s advanced stage Carmacks copper-gold-silver project in the Yukon\u2019s Minto Copper District.<\/p>\n

When the agreement is completed, Granite Creek will control a large regional land package, including the advanced-stage Carmacks Copper Project and the highly perspective Stu Project. It said the combined land package will cover approximately 176 km2<\/sup> within the Minto Copper District.<\/p>\n

Under the terms, Granite Creek will acquire all the outstanding shares of Copper North it doesn\u2019t already own via an all-share transaction in which Copper North shareholders will receive one common share of Granite Creek for every two-and-one half Copper North shares.<\/p>\n

All outstanding warrants and options of Copper North will be exchanged for warrants and options of Granite Creek at the exchange ratio.<\/p>\n

The Copper North options will be governed by, and deemed to be outstanding under Granite Creek\u2019s existing long-term performance incentive plan.<\/p>\n

Based on a price of $0.15 per Granite Creek share (closing price August 28, 2020), the exchange ratio represents an offer price of $0.06 per Copper North share, and a 20% premium to the closing price of Copper North shares August 28, 2020.<\/p>\n

On Tuesday September 1, Granite Creek jumped 3.13% or $0.01 to 17 cents on a volume of 46,750 shares traded.<\/p>\n

Copper North rose 20% or $0.01 to $0.06 on a volume of 102,000 shares traded.<\/p>\n","protected":false},"excerpt":{"rendered":"

Granite Creek Copper Ltd. [GCX-TSXV] reached an agreement to acquire all the outstanding shares of Copper…<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[622],"tags":[33,116],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1204977"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1204977"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1204977\/revisions"}],"predecessor-version":[{"id":1204978,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1204977\/revisions\/1204978"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1204977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1204977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1204977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}