EV Minerals Eyes Copper Boom with Santa Monica Project Acquisition
EV Minerals Corporation (EEVM) has provided an update on its corporate activities and plans for the proposed acquisition of the Santa Monica Copper Project in Chile. The company remains committed to completing the acquisition, which is subject to several conditions including regulatory approvals and securityholder approval.
The Proposed Transaction involves a non-brokered private placement of subscription receipts with minimum aggregate gross proceeds of $3,000,000. The net proceeds will be used to satisfy the conditions of the transaction, advance work programs at Santa Monica, and for general working capital and corporate purposes.
Copper prices have traded at or near record levels this year, reaching approximately US$6.50 per pound in 2026, a 47% increase over the past twelve months. The company believes that a sustained higher copper price combined with near-term production potential at Santa Monica presents an opportunity to create meaningful value for shareholders.
In connection with the Proposed Transaction, EV Minerals will be consolidating its issued and outstanding common shares on a one-for-six basis and changing its name to Three Points Copper Inc. The Consolidation is subject to approval by the Canadian Securities Exchange (CSE) and is expected to take effect on or about August 31, 2026.