Western Copper and Thermal merge

The boards of Western Copper Holdings (WTC-T) and Thermal Exploration (THR-A) have approved a merger proposal.

The arrangement is expected to expedite financing of the Carmacks copper project in the Yukon, in which each company holds a 50% working interest.

The plans calls for Thermal shareholders to receive one Western Copper share for every five Thermal shares.

Thermal’s non-Carmacks exploration assets will be assigned to a new company, Pacific Cascade Resources, in which Thermal shareholders (except for Western Copper) will receive one common share of Pacific Cascade for each five Thermal shares.