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Surge Copper Corp
Symbol SURG
Shares Issued 80,923,309
Close 2020-12-18 C$ 0.78
Recent Sedar Documents

Surge Copper, Thompson Creek property agreement

2020-12-18 21:03 ET - Property Agreement

The TSX Venture Exchange has accepted for expedited filing documentation pertaining to an option agreement dated Dec. 15, 2020, between Surge Copper Corp. and Thompson Creek Metals Company Inc., pursuant to which the company has an option to acquire a 70-per-cent interest in the Berg property, located in central British Columbia. In consideration, the company will issue up to $5-million in shares and undertake $8-million in work commitments as follows:

  • Upon exchange approval, 6,825,939 shares (1);
  • Year 1, up to $200,000 in shares (1);
  • Year 2, up to $200,000 in shares (1) and $2-million in work expenditures;
  • Year 3, up to $200,000 in shares (1) and $2-million in work expenditures;
  • Year 4, up to $200,000 in shares (1) and $2-million in work expenditures;
  • Year 5, up to $200,000 in shares (1) and $2-million in work expenditures;

(1) The shares will be issued at the greater of: (i) the 10-day volume-weighted average price on the relevant anniversary date; and (ii) 55.2 cents.

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