Coast Copper has closed the sale of its Borealis exploration property in British Columbia’s Toodoggone district for total consideration of about C$1.48 million, the company said.
The price reflects C$500,000 in cash and 3.5 million Hi-View Resources shares valued at C$0.28 each at the time of closing, plus the right to a bonus payment under certain conditions.
Coast Copper also keeps a 3% net smelter return royalty on the project.
The deal hands Hi-View a 100% interest in Borealis, one of three Toodoggone properties Coast Copper assembled this year.
Borealis sits in north-central British Columbia, a region drawing fresh attention for copper and gold exploration.
Coast Copper first outlined the transaction on August 28, when it set the cash component at C$500,000 and the share component at 3.5 million Hi-View shares at a deemed price of C$0.25, for an initial headline value of C$1.375 million.
The higher closing figure reflects the market price of Hi-View shares on the completion date.
Under the terms disclosed at signing, Coast Copper’s 3% royalty can be partially bought back by Hi-View for C$2.5 million for the first 1% and C$5 million for an additional 1%.
The agreement also includes a transaction bonus payable to Coast Copper if Hi-View undergoes a qualifying sale or similar corporate event after closing, with tiers that rise with the deal size.
Coast Copper identified Borealis as a package prospective for porphyry copper-gold, polymetallic and skarn targets.
The property spans about 9,106 hectares and lies near ground held by larger operators in the camp.
In late August, Coast Copper chief executive Adam Travis said the Toodoggone has become “one of the hottest exploration regions in Canada,” framing the sale as consistent with a strategy to recycle noncore assets while focusing on flagship work.
For Coast Copper, the sale brings fresh cash and a liquid equity stake without tapping public markets, and it preserves upside through the retained royalty and the potential bonus payment.
The company emphasized that proceeds support ongoing work across its broader portfolio, led by the Empire Mine project on northern Vancouver Island.
Hi-View, which confirmed completion of the acquisition on Wednesday, said the purchase nearly doubles its 100%-owned land position in the district and sets up geophysics and permitting ahead of drilling.
The company reiterated the consideration mix and outlined resale restrictions on the stock issued to Coast Copper.
The transaction adds to a recent run of property shuffles and early-stage campaigns in the Toodoggone as juniors position around copper and gold targets.
The key variables to watch now are how quickly Hi-View turns early surveys into defined drill targets at Borealis, and whether Coast Copper realizes additional value through its royalty and any future bonus payment.
The closing also leaves Coast Copper with two remaining Toodoggone properties to advance or monetize, a lever the company can pull as market conditions evolve.
