Carlyle Commodities completes Miramis Mining acquisition, expands British Columbia mining portfolio

Carlyle Commodities Corp. (CSE: CCC) (FSE: BJ4) (OTC: CCCFF) has successfully finalized its acquisition of Miramis Mining Corp., a strategic move that diversifies its mining assets and bolsters its presence in British Columbia mining regions. This acquisition was completed under an amalgamation agreement, effective September 27, 2024, between Carlyle Commodities Corp., Miramis Mining Corp., and Carlyle’s subsidiary, 1500285 B.C. Ltd.

Miramis Mining Corp., incorporated in 2012 under British Columbia’s Business Corporations Act, focuses on exploration and development of mineral properties. The company’s flagship asset, the Nicola East Project, is located 24 km northeast of Merritt, British Columbia, within the southern Quesnel Trough, a geologically significant area known for its copper and gold porphyry-type deposits.

Transaction Details

Under the amalgamation structure, Carlyle Commodities Corp. issued 23.84 million common shares at a deemed price of $0.03 per share, totaling $715,302. Miramis Mining Corp. shareholders now own approximately 26.15% of Carlyle’s outstanding shares, expanding the company’s shareholder base by over 100 investors.

As part of the transaction, holders of Miramis Mining Corp. warrants gained the right to exchange them for Carlyle shares under adjusted terms. Warrants totaling 460,800 are exercisable at $0.05, with expiration dates spanning from July to December 2025. To ensure orderly integration, Carlyle implemented a 120-day escrow on shares issued to Miramis Mining Corp. shareholders, with phased releases scheduled through April 2025.

Enhanced Asset Portfolio

This acquisition strengthens Carlyle Commodities Corp.’s portfolio, combining Miramis Mining Corp.’s assets, including the option to acquire the Nicola East Project, with Carlyle’s existing projects. The Nicola East Project is of particular interest due to its proximity to significant copper and gold deposits, such as the Highland Valley Copper Complex and New Afton Mine.

In parallel, Carlyle has advanced exploration at its wholly owned Quesnel Gold Project. A recent biogeochemical survey conducted by Hardline Exploration Corp. identified potential extensions of known copper and gold mineralization on the 1,607-hectare property. This work follows Carlyle Commodities Corp.’s acquisition of a 100% interest in the project, which is situated near key infrastructure for year-round accessibility.

Nicola East Field Program

Field crews at the Nicola East Project recently collected 35 samples, identifying quartz veins containing up to 3% chalcopyrite and 1% chalcocite, along with visible copper mineralization. The work builds on promising 2023 findings, including a grab sample grading 3.04 g/t gold. Results from this year’s program are pending laboratory analysis and quality assurance checks.

Strategic Implications

Carlyle Commodities Corp. expects the amalgamation with Miramis Mining Corp. to lower operational costs, improve market exposure, and enhance liquidity for shareholders. The addition of the Nicola East Project and Quesnel Gold Project positions the company for growth in British Columbia mining regions.

With exploration already underway and a broadened shareholder base, Carlyle Commodities Corp. is poised to leverage its expanded portfolio to create value for investors while advancing its key projects.