West Pacific Ventures Inc. entered into a binding letter of intent to acquire 8 Copper-Focused Projects in Chile from Revelo Resources Corp. (TSXV:RVL) on May 19, 2020. Revelo received the $0.125 million in cash on signing of the LOI and will receive a further cash payment of $0.175 million on signing of definitive agreement. The parties will sign the definitive agreement by the end of June 2020. West Pacific Ventures Inc. entered into a definitive agreement to acquire 8 Copper-Focused Projects in Chile from Revelo Resources Corp. on August 17, 2020. Revelo Resources Corp has received a second cash payment of $175,000 on signing of the Agreement on August 17, 2020. Under the terms of the letter of intent, Revelo will receive new shares of West Pacific Ventures Inc that in turn will be exchanged for shares of a public company shell and on closing Revelo will hold 19.9% stake in the public company shell that will concurrently list on the Canadian Securities Exchange after having raised a minimum of CAD 4 million ($2.8 million). Revelo will receive a contingent payment of $2 million, as a one-time payment on a project by project basis up to a total of $16 million on the completion of the first bankable feasibility study on each project and also benefit from a contingent payment of $3 million, as a one-time payment on a project by project basis up to a total of $24 million within 90 days of the initiation of commercial production on each project.

Revelo will have a seat on the board of directors of public shell company and will also have a role in the technical operatorship of the exploration programs. Closing is subject to public company shell having raised a minimum of CAD 4 million ($2.8 million). Completion of the overall transaction is subject to completion of the private placement, approval for listing on the CSE and other customary conditions. The transaction is expected to be closed by the end of August 2020. As of June 1, 2020, the transaction, including conditions precedent, is expected to close by September 2020. As of September 29, 2020, the transaction, including conditions precedent, is expected to close by October 2020.

West Pacific Ventures Inc. completed the acquisition of 8 Copper-Focused Projects in Chile from Revelo Resources Corp. (TSXV:RVL) on November 27, 2020. In a related transaction, Pampa Metals Corporation (TSXV: FSW.H) has completed a business combination with WestPac on November 27, 2020.