Codrus Minerals expands with copper and molybdenum deals

• Codrus Minerals agreed to acquire EdgeMet, gaining copper and molybdenum projects in Australia and Peru.
• The company announced a two-tranche placement to raise up to approximately $0.025 each.
• Codrus stated the transaction is intended to diversify and expand its footprint in the critical minerals sector.

Codrus Minerals (ASX:CDR) executed a binding agreement to acquire EdgeMet for $100,000 in cash, 230 million shares, and up to 60 million performance rights.

The acquisition includes the Copperhole Creek Project in Queensland and the right to earn a 99.8% interest in the Tiquihua Project in Peru.

The deal also involves an intellectual property licence relating to early-stage joule heating technology.

Completion of the transaction requires shareholder approval at an extraordinary general meeting scheduled for September.

Following the announcement, the Codrus Minerals share price was unchanged at $0.036.

Codrus holds a portfolio of exploration assets targeting gold, base metals, and critical minerals across Western Australia and other jurisdictions.