Copper One to Buy Copper Nickel Property; Shares Approaching Year Low

Copper One Inc. (CUO.V) went down roughly 4% to day low $0.265, trading just 2 cents above year lows, after announcing today that it has signed a purchase agreement with Cartier Resources Inc. to acquire 100% of the Riviere Dore copper nickel property.

The company said that under the terms of the agreement, it will pay $150,000 in cash, issuing to Cartier 2 million Copper One common shares and granting to Cartier a royalty of 1% of the net smelter return in connection with ore extracted from the property.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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