Xigem Signs Letter of Intent to Acquire Condor Copper
Bitget2026/10/14 21:06- Xigem signed a non-binding letter of intent dated October 13, 2026, to acquire Condor Copper, which holds Chilean copper exploration rights.
- A proposed C$ 1.5 million–C$ 2 million common-share placement would fund up to 12 drill holes, transaction costs and working capital.
- Existing shareholders would retain 20% of the combined company; Condor securityholders and financing subscribers would collectively hold 80%.
- The drilling condition requires four holes with intersections of at least 20 metres averaging at least 0.4% copper, subject to waiver.
- Completion remains subject to a definitive agreement and required approvals, with termination possible if closing does not occur by April 30, 2027.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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