Nevada Copper Announces Stalking Horse Asset Sale

Nevada Copper (TSE:NCU) has released an update.

Nevada Copper Corp. has agreed to sell most of its assets to Southwest Critical Materials LLC for $128 million, amidst ongoing Chapter 11 bankruptcy proceedings. The deal, set as a ‘stalking horse’ bid to set the minimum price in an active auction process, could be superseded by higher offers from other bidders before the September 6 deadline. Meanwhile, the company’s shares are to be delisted from the Toronto Stock Exchange as of August 21, 2024.

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