Published: November 2, 2022 |

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Allied Copper Corp. has agreed to acquire 100 percent of the issued and outstanding shares of privately-held Volt Lithium Corp. Volt currently holds approximately 400,000 acres of mines and minerals permits in the Rainbow Lake area of Alberta, specifically targeting lithium found in the brines of the Keg River formation. Through this acquisition, Allied Copper is afforded a strategic opportunity to expand both its asset base and development focus to include a broader range of battery metals.

“The acquisition of Volt and retention of its key management team members helps position Allied Copper as a responsible contributor to the world’s battery metals supply, as our combination of copper and now lithium assets are both situated in high integrity jurisdictions featuring robust regulatory regimes and strong environmental regulation,” said Warner Uhl, executive chairman of Allied Copper.

“This strategic transaction accelerates the execution of the company’s strategy, bringing greater scale along with entry into one of the most sought-after minerals for the future of clean energy, while supporting our efforts to deliver long-term value for our shareholders,” added Uhl.

The acquisition is subject to standard closing conditions and is expected to close on or about November 16, 2022.

In connection with the completion of the acquisition, Alex Wylie, a vendor, will be appointed as the president of Allied Copper. Wylie brings expertise in finance, accounting, and capital markets along with a proven track record of founding and building high-growth businesses. Originally from Toronto and a graduate of Western University with a degree in Economics, Wylie earned his CPA CA designation in 1993, and spent more than ten years in investment banking with both a major independent North American investment dealer as well as boutique firms. His strategic and tactical corporate experience includes the founding, growing and ultimate acquisition of resource focused entities as well as health care companies. Kyle Hookey will continue to act as chief executive officer and Morgan Tiernan will continue to act as chief financial officer of Allied Copper.

In connection with the completion of the acquisition, current directors J. Campbell Smyth and David Eaton will resign from the board, and will be replaced by Alex Wylie and Marty Scase. Scase will be an independent director. Scase has acted as director of numerous private companies in the resource sector over his 25-year career. Uhl and Hookey will continue to act as directors of the company, with Uhl also continuing to serve as executive chairman.

About Allied Copper
Allied Copper, headquartered in Vancouver, British Columbia, Canada, is a mineral exploration company focused on acquiring and developing potential long life, scalable copper and/or gold assets in the Western U.S. The company’s strategy is to focus on low cost and potential high growth operations in low-risk jurisdictions. Allied Copper’s management is committed to operating efficiently and with transparency in all areas of the business.

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