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Kincora Copper acquires seven mineral licences from merger

Monday, October 31, 2016 10:12
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(Before It's News)

The TSX Venture Exchange has approved a share exchange agreement between Kincora Copper (CVE:KCC) and High Power Ventures Inc.

The deal will see two of Kincora’s subsidiaries merge with two of HPV’s subsidiaries, giving Kincora seven more mineral exploration licences and two new licence applications in Mongolia.

As payment for the deal, Kincora will issue 5.9mln new shares at a deemed price of 22.5 cents per share, as well as 2.9mln warrants exercisable at 54 cents for the next two years.

Shares were unchanged at C$0.25.

Story by ProactiveInvestors

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