Idaho Copper Corp (COPR): M&A transaction — Joway Health acquires ICUMO in reverse merger; ICUMO shareholders own 90.1%

Idaho Copper Corp

ICUMO shareholders received 182,240,000 shares (90.1% of 202,294,000 total) at 1.34 exchange ratio.
Company exits shell status; acquires CuMo Project, a molybdenum-copper-silver deposit in Idaho (2,640 acres).
New board and officers: Steven Rudofsky (CEO), Robert Scannell (CFO), Andrew Brodkey (COO), Shaun Dykes (VP Exploration).
Assumed 56,615,000 options ($0.125) and 41,540,000 warrants ($0.15); issued $898,000 convertible notes ($0.10) with 8,980,000 warrants.
Covered securities subject to 18-month lock-up (early release on up-listing) then one-year 5% leak-out restriction.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Idaho Copper Corp: Revised and restated Code of Ethics adopted on January 23, 2023, applicable to all officers and directors (effective 2023-01-23).

Change: code of ethics
Effective: 2023-01-23

Exact text from the filing

On January 23, 2023, in connection with the Exchange, the Board adopted a revised and restated Code of Ethics (“ Code of Ethics ”), applicable to all officers and directors.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Idaho Copper Corp: Company ceased to be a shell company upon consummation of the Share Exchange Agreement.

Change: shell status

Exact text from the filing

As a result of the consummation of the transactions contemplated under the Share Exchange Agreement, the Company believes that it is no longer a shell company as that term is defined in Rule 405 of the Securities Act and Rule 12b-2 of the Exchange Act.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Idaho Copper Corp underwent a change of control involving International CuMo Mining Corporation (closed 2023-01-23).

Action: change of control
Counterparty: International CuMo Mining Corporation
Closing: 2023-01-23

Exact text from the filing

On January 23, 2023, the Company consummated the Exchange.

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Idaho Copper Corp filing history →

Source: SEC EDGAR

accession 0001213900-23-005558

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