Surge Copper Acquires 100% of Berg Property in All-Stock Deal with Thompson Creek Metals, Securing 15% Stake.

Surge Copper, a Canadian-based company, has agreed to acquire 100% of the Berg property in British Columbia from Thompson Creek Metals, a fully-owned subsidiary of Centerra Gold, in an all-stock deal. The deal involves the issue of 21.2 million of Surge Copper’s common shares to the company, resulting in a stake of around 15% in Surge Copper. The purchase agreement replaces a previous option agreement signed in December 2020 between Surge Copper and Thompson CreekMetals, which allowed Surge Copper to acquire a 70% interest in the property by investing C$8m ($6m) over five years and issuing C$5m ($3.8m) in common shares of the company. The acquisition is dependent on approval of the TSX Venture Exchange.