Canada One Mining Corp. (TSXV:CONE) entered into share purchase agreement to acquire Rockhound Copper Inc. for CAD 1.3 million on September 25, 2023. In consideration for all the issued and outstanding shares of Rockhound, the company will, upon closing of the acquisition (i) issue 12 million common shares of the Company to the Vendors; (ii) and make a cash payment of CAD 0.02.

In addition, the company will make a further cash payment of CAD 0.02 within six months of the closing. The consideration shares issued to the vendors are issued at a deemed value of CAD 0.09 per consideration share, for an aggregate value of CAD 1,080,000, and represents 26.3% of the issued and outstanding common shares of the company on a post-issuance basis. Under the terms of the purchase agreement, if the company drills 0.15% copper or greater over a 100 meter or greater interval length on Copper Dome South, it will issue an additional bonus of 1,000,000 common shares.

If a preliminary economic assessment is completed on Copper Dome South, the company will issue a further bonus of 1,000,000 common shares. Copper Dome South is also subject to a 3% net smelter royalty in favor of the Vendor. The company has an option to purchase up to 2% of the net smelter royalty for CAD 2,000,000.

Closing of the acquisition is subject to a number of conditions, includes the approval of the TSX Venture Exchange.