Granite Creek Copper Ltd. Sells Element One Hydrogen: A Strategic Business Move
Key Ideas
- Granite Creek Copper Ltd., based in Vancouver, has finalized a sale and purchase agreement with Buscando Resources Corp. to sell its subsidiary, Element One Hydrogen Corp., for $150,000 CDN.
- The deal includes the Union Bay and Star Projects and the Element One Hydrogen brand, highlighting Granite Creek's strategic focus on critical minerals exploration in North America.
- Granite Creek will retain rights to reimbursement for work completed on the Star project under the NRCan research project and maintain payments associated with an option agreement with 1508260 B.C. Ltd.
- This strategic move signifies Granite Creek's commitment to optimizing its resources and focusing on its core mining projects in Canada's Yukon Territory and central British Columbia.
Granite Creek Copper Ltd., a Vancouver-based company, has entered into a significant agreement with Buscando Resources Corp. The deal involves the sale of Granite Creek's subsidiary, Element One Hydrogen Corp., along with its Union Bay and Star Projects and the Element One Hydrogen brand. The transaction, valued at $150,000 CDN, is set to be completed within 30 days. This move underscores Granite Creek's strategic approach to focus on critical minerals exploration in North America. Despite the sale of Element One Hydrogen, Granite Creek will maintain rights to reimbursement for previous work on the Star project, funded by the NRCan research project in collaboration with Kemetco Research. Additionally, the company will continue to receive payments from its option agreement with 1508260 B.C. Ltd. This strategic business decision aligns with Granite Creek's commitment to maximizing its resources and concentrating on its key mining projects located in Canada's Yukon Territory and central British Columbia.