Sonoran Desert Copper Corporation Energy Materials Project Option in Brazil

May 05, 2025 07:48 AM EDT | By News File Corp
 Sonoran Desert Copper Corporation Energy Materials Project Option in Brazil
Image source: Kalkine Media

Vancouver, British Columbia--(Newsfile Corp. - May 5, 2025) - Sonoran Desert Copper Corporation (TSXV: SDCU) ("SDCU'' or the "Company") is pleased to announce that the Company has signed an option agreement (the "Purchase Option Agreement") dated May 2nd 2025, to acquire a 100-per-cent interest in the Bahia Manganese Project and the Rio Claro Titanium Project (collectively, the "Brazil Projects"). The Bahia Manganese Project is 896.61 hectares in Goias, Brazil and the Rio Claro Titanium Project is 1005.12 hectares in Bahia, Brazil.

Transaction Details

The Brazil Projects are being optioned from Beko Invest Ltd ("BEKO").

This Purchase Option Agreement shall terminate if SDCU fails to advance the required cash and share payments to BEKO as per the following within the time limit as follows:

  • if SDCU fails to advance US$20,000 as a down payment on execution of this Option Agreement and advance US$30,000 and issue to BEKO 4,000,000 common shares of SDCU within ten days of receipt of TSX Venture Exchange Approval;
  • if SDCU fails to advance US$75,000 and issue to BEKO a further 2,000,000 common shares of SDCU on or before the six-month anniversary date of Exchange Approval; and
  • if SDCU fails to advance US$75,000 and issue to BEKO a further 2,000,000 common shares on or before the twelve-month anniversary date of Exchange Approval.

SDCU agrees to grant BEKO a two percent (2%) Net Smelter Royalty against the Brazil Projects upon the successful exercise of the Option as detailed above.

The common shares issued to BEKO by SDCU under the terms of the Purchase Option Agreement, will be subject to a four-month statutory hold period which will begin on the date of issuance of the common shares.

The Parties are evaluating further energy materials assets in Brazil that may fall under this Purchase Option Agreement.

Closing Conditions

The execution of the Definitive Agreements will be subject to the following conditions:

(a) Each Party obtaining all necessary and appropriate governmental, regulatory, contractual, board of director, shareholder, member and other third-party licenses, permits, approvals and/or consents which are required to execute the Definitive Agreements.

(b) SDCU obtaining TSX Venture Exchange approvals for the transaction.

(c) Such other necessary and appropriate conditions as the parties shall mutually agree.

Chromite Project LOI

Further to the News Release dated December 6, 2024, the Company has elected not to proceed further with the Chromite Project LOI. The Company did not make any payments related to the LOI.

Update on Financing

Further to the news release of February 13, 2025, the company is continuing its financing of up to 10 million units at 10 cents for aggregate gross proceeds of up to $1-million, with each unit consisting of one common share of the company and one common share purchase warrant, with each warrant being exercisable for an additional common share at an exercise price of 15 cents for 24 months. The warrants will be subject to the right of the company to accelerate the exercise of the warrants if the shares of the company trade at or above 50 cents for a period of 10 consecutive trading days. Finders' fees in accordance with TSX Venture Exchange policies may apply to the financing. All securities issued pursuant to the financing will be subject to a four-month hold. Proceeds from the financing will be used for project payments, continuing development of the company's projects and general working capital.

ABOUT SONORAN DESERT COPPER CORPORATION

Sonoran Desert Copper Corporation is focused on securing, developing and monetizing energy materials assets and technologies to build shareholder value.

On behalf of the Board of Directors of
SONORAN DESERT COPPER CORPORATION

"Brian Leeners"

Brian Leeners, CEO & Director
[email protected] / +1 604-862-4184 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250790


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content) is a service of Kalkine Media Incorporated (“Kalkine Media, we or us”), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content. Some of the images/music that may be used in the Content are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.


Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.