on Aurwest Resources Corporation (isin : CA05208Y1043)
Aurwest Finalizes Agreement for Stars Porphyry Project Sale
Aurwest Resources Corporation has announced a Purchase & Sale Agreement with Interra Copper Corp. for the sale of its Stars Property. The agreement, dated October 4, 2024, transfers Aurwest's 100% interest in this copper-molybdenum project in British Columbia to Interra.
Upon closing, Aurwest will receive approximately $1.1 million, including $250,000 in cash, 10 million Interra common shares, and 2.5 million purchase warrants. This acquisition marks Aurwest's significant shareholder status in Interra, with CEO Cameron MacDonald joining Interra's board.
The Stars Property shows historical drill results needing further development, aligning with Interra's expertise in resource development. Regulatory and shareholder approvals are pending, with a closure expected by December 15, 2024.
R. E.
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