Kodiak Copper Announces Filing of TSXV Listing Application, Execution of Definitive Agreements, Closing of Subscription Receipt Financing and Leadership Appointments for Kay Copper
Kodiak Copper filed an initial TSX Venture Exchange listing application on September 18, 2026 for Kay Copper (formerly Railtown II Capital Corporation), the new US-focused copper exploration company being created with Teck Resources, with closing expected in October 2026. Under the definitive agreements, Kodiak vends its 100%-owned Mohave project and Teck vends its Copper Hill project into NewCo, with each receiving 20 million shares at $0.25 per share; post-closing Kodiak will hold approximately 26.4% of Kay Copper's roughly 75.8 million undiluted shares outstanding.
Key figures
- Offering Price
- 0.25
- Shares Offered
- 21479000
- Outside date
- December 31, 2026
- Expected closing
- October 2026
- Escrow release date
- November 7, 2026
- Newco shares issued to teck
- 20000000
- Consideration price per share
- 0.25
- Newco shares issued to kodiak
- 20000000
- Teck offtake of production pct
- 33
- Post closing shares outstanding
- 75800000
- Teck post closing ownership pct
- 26.4
- Kodiak post closing ownership pct
- 26.4
- Newco initial financing gross proceeds
- $830,000
- Newco initial financing price per share
- 0.1
- Gross proceeds newco concurrent financing
- C$5,369,750
AI analysis
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