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As of on the TSX Venture Exchange ∙ Minimum 15 minute delay
July 17 (Reuters) - Getty Copper Inc <GTC.V>::GETTY COPPER INC - JOHN LEPINSKI, CEO, REQUISITIONED A SPECIAL MEETING OF SHAREHOLDERS FOR PURPOSE OF REMOVING CERTAIN DIRECTORS.GETTY COPPER - CEO'S REQUISITION PRECIPITATED BY NOTICE BY DENNIS MILBURN CALLING BOARD MEET FOR JULY 11 TO APPROVE TERM SHEET FROM INTER WORLD.GETTY COPPER - NOTICE ISSUED BY DENNIS MILBURN CALLING BOARD MEETING FOR JULY 11 TO APPROVE TERM SHEET FROM INTER PROPOSING DEBT & EQUITY FINANCING.GETTY COPPER - IN FACE OF REQUISITION, FINANCING PROPOSAL GOT FAVOURABLE VOTES FROM EACH OF 3 IMPUGNED DIRECTORS AND WAS OPPOSED BY 3 OTHERS.GETTY COPPER INC - CURRENT CHAIRMAN, DENNIS MILBURN, CAST DECIDING VOTE IN FAVOUR OF FINANCING PROPOSAL ON DEADLOCKED 6-PERSON BOARD.
Getty Copper Inc:Announces that the Company has entered into an agreement with Robak Industries Ltd.Says whereby the Getty South property in which each of the company and Robak owns a 50 pct interest, will be unitized with the balance of company's property in Highland Valley adjacent to Teck Resources Inc., Highland Valley Copper mine and a former copper producer, Bethlehem Copper.
Getty Copper Inc:Closes private placement financing of 6,668,000 common shares at a price of C$0.05 per Common Shares for aggregate subscription price of C$333,400.About 58 pct of Private Placement was purchased by insiders of Corporation.Proceeds from Private Placement will be used for general and administrative expenses.No finders' fees are payable.All securities issued pursuant to the Private Placement will be subject to a four-month hold period until Nov. 17, 2014.
Getty Copper Inc:Clarifies its June 26, 2014 announcement of a private placement financing of 6,268,000 common shares at a price of C$0.05 per Common Shares for an aggregate subscription price of C$313,400.Says about 65 pct. of the Private Placement will be purchased by insiders of the Corporation.Says the proceeds from the private placement will be used for general and administrative expenses.
Getty Copper Inc:Announces a private placement financing of 6,268,000 common shares at a price of Cdn$0.05 per Common Shares for an aggregate subscription price of C$313,400.Proceeds from the Private Placement will be used for general and administrative expenses.
Getty Copper Inc. announced the signing of a letter of intent (LOI) with EffiSolar Energy Corp., an affiliate of a large Chinese conglomerate, Zhejiang Guoguang Science and Technology Group (ZGSTG), under which ZGSTG has acquired the right to carry Getty's North, South and adjacent deposits in Highland Valley British Columbia to production for a 51% joint venture interest in the project. Under the LOI, ZGSTG is required to spend a minimum of $5 million over 36 months to test the expansion potential of the known copper reserves beyond the currently estimated (proven and probable) figure of 86.6 million tons grading 0.4% Cu. $3 million of the $5 million is a firm commitment and the balance is optional. If ZGSTG elects to terminate its involvement after the first $3 million is spent it can convert its interest into 10 million Getty shares valued at $0.30 each (11% of Getty shares) and if ZGSTG terminates after that, it is limited to a 10% net profits interest capped at two times aggregate investment by ZGSTG. The initial $3 million program must be spent within 24 months and will concentrate on Titan 24 geophysical and diamond drilling to test the theory of a second fault zone and the interconnectedness of the Getty North and South deposits and adjacent anomalies.
Getty Copper Inc. announced a litigation update. The Aarvold et. al. plaintiffs and Getty Copper Inc. have concluded a settlement of the action in which both the plaintiffs' claims and the defendants' counterclaim have been dismissed without costs to any party. No settlement payments were transferred or received by either party. This settlement serves to vindicate the Company's steadfast position that the allegations raised in these and previously settled proceedings against the Company and its Directors were completely unfounded. With the settlement of these proceedings, the Board is able to direct its full attention to the business of developing Getty's Highland Valley properties and pursue other viable opportunities.
Getty Copper Inc. announced that it has restructured it's management team. Dr. Corby Anderson, CEng FIChemE, of Butte, Montana has been appointed President and Chief Operating Officer of the Company.
Getty Copper Inc. announced it has closed a private placement of 3,100,000 Flow Through (FT) Units at a price of $0.65 per FT Unit. Each Flow-through Unit comprises one flow-through common share and one-half of one share purchase warrant. Each whole warrant (two half-warrants) is exercisable to purchase an additional flow-through share at a price of $0.75 until December 30, 2005. Haywood Securities Inc. act as Agent for the Offering.
Getty Copper Inc. announced that it has signed a memorandum of understanding with Highland Valley Copper (HVC). HVC is a joint venture among TeckCominco Ltd., 63.9%, BHP Billiton, 33.6% and Highmont Mining Company as to 2.5%. The memorandum of understanding allows HVC to explore and develop certain mineral claims, in the Highland Valley, controlled by the Company. Under the terms of the memorandum, HVC will have the right to earn an initial 51% interest in the selected the Company claims by spending an aggregate of $5 Million by December 31, 2006. Upon earning its initial interest, HVC will have the right to earn a further 19% interest from the Company (for a 70% interest) by expending a further $10Million and completing a feasibility study over the next four years. If HVC proceeds with a production plan, it will either arrange project financing for at least 65% of the capital costs or extend an offer, on acceptable commercial terms, to lend the Company 65% of its portion of the capital costs to place the project into commercial production. Each company will contribute its pro rata share of the equity required on a 70% HVC: 30% the Company basis.
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